AI Job Market Update

While the U.S. job market remains remarkably strong on the whole, tech companies have cut nearly 40,000 jobs in the first two months of 2024.

Just last week, Cisco announced plans to lay off about 4,250 employees, PayPal said last month that it would cut about 2,500 jobs, Microsoft let go around 1,900 workers in its gaming unit in late January, shortly after eBay announced that it would cut about 1,000 jobs.

Much of these lay offs are coupled with these companies expanding into AI. It’s not 1 job out 1 job in, but it does show how this disruption will continue to roll out as departments are trimmed not only due to new levels efficiency, but also to free up cash to expand AI efforts.

Five Sectors Projected To Grow

1. Environmental Scientists and Sustainability Experts - 136K annual job openings

2. IT and Cyber Security - 377K annual job openings

3. Education - 875K annual job openings

4. Healthcare - 1.8M annual job openings

5. Skill Labor - added this because you were all thinking it but the growth may not be as robust at you think 32K jobs per year

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