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Comment by emp17344 | Hacker News Reader

Then why is unemployment around 4%? You believe we have AGI and yet it can’t do anyone’s job?

I think the AI 2027 paper does a good job explaining this phenomenon: AI companies are focused on coding and automating themselves first (i.e. using AI to build future models and do AI research) because it is the best way to ensure the fastest accelerated rate for any frontier company. Automating the rest of the economy will come next.

Also, while AI's effect on jobs may be currently overstated, it's also obviously having an impact. New CS grads and junior developers are having a hell of a time finding jobs now.

Didn’t I just see a thing about how actual unemployment is at like 24% a few days ago?

According to that interpretation, ~24% is one of the lowest ever.

https://www.lisep.org/tru

(I have not gone down the rabbit hole to understand how they achieve that 24% number)

Workforce participation is different than unemployment. Didn't click the link but I suspect that's the case with your 24%

24% sounds correct to me. Many of my friend who completed phd are currently unemployed .... And, some of them started doing random job like uber to make a living.

If government don't step up and regulate outsourcing like 100% tax, big problems are coming up.

24.9% is damn close to the 24.8% average over the ast 25 years, for the thing it's measuring-- jobless, people working part-time or involuntarily, and workers earning less than $26,000. Since 2000, it's been over 30% for more years than it's been under 24%.

If you're doing a job you aren't unemployed. Underemployment is measured separately

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