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No current job losses from AI, says White House economic director amid tech layoffs.

Market News
11 May 2026
CNBC
Bearish
pluang ai news

White House National Economic Council Director Kevin Hassett stated there is no data showing AI is currently causing job losses, despite recent tech layoffs at companies like Amazon, Meta, and Block. These companies cite AI-driven automation and productivity improvements as reasons for workforce reductions. The government is studying AI's future impact on jobs with a dedicated taskforce. This suggests that while AI is reshaping work, its immediate effect on employment numbers is not yet evident.

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