Tech jobs shrinking because of AI but chip factories are creating new manufacturing roles

The American labour market posted a surge in hiring this August, as per the fresh data released by the Bureau of Labor Statistics. It also reveals a difference across industries as technology positions retreat due to the artificial intelligence (AI) boom while hardware fabrication gains ground due to chip manufacturing. Domestic employers expanded their payrolls by 162,000 workers last month, blowing past market projections of just 53,000 additions. Citing data, The New York Post reported that the nationwide unemployment rate held steady at 4.1%.

According to the data, past employment figures also saw sharp positive adjustments.