What is happening to jobs? Separating AI hype from reality

# Summary Despite widespread fears of an "AI jobs apocalypse," current evidence shows AI's impact on overall employment is small, with unemployment rising similarly across both AI-exposed and non-exposed occupations, suggesting broader labor market softening rather than AI-driven job losses. However, recent graduates face a tougher job market that may be partly attributable to AI, while AI's effects on worker productivity have been mixed but generally positive, and firm adoption has accelerated unevenly across the economy. Early data provides limited insight into AI's long-term effects on the labor market, and policymakers should recognize that current trends may not predict future disruption.