Hassett says AI isn't costing anybody their job right now — but tech layoffs keep coming

In a recent discussion, Kevin Hassett, the Director of the White House National Economic Council, downplayed concerns regarding artificial intelligence and its effect on employment. He stated that current data does not indicate that AI is displacing jobs, asserting, "There's no sign in the data that AI is costing anybody their job right now." Hassett made these remarks during an appearance on CNBC's "Squawk Box," amid an unsettling trend of layoffs sweeping through the tech industry. Major companies, including Amazon, Meta, and Oracle, have been making headlines for their significant job cuts. While these firms are leveraging AI to enhance productivity and streamline operations, the narrative raises questions about the long-term implications for the workforce. In February, Block revealed plans to reduce its workforce by nearly 4,000 employees, effectively halving its staff. The company’s CFO, Amrita Ahuja, explained that the decision was part of a strategic shift aimed at capitalizing on business growth while employing smaller, highly skilled teams that utilize AI to automate processes more efficiently. As the conversation around AI evolves, the potential impact on jobs remains a critical topic for both policymakers and industry leaders.