Last month, a bunch of scare headlines claimed that AI was “wreaking havoc” on U.S. jobs. This was based on October’s Challenger Gray report, which tracks announced layoffs. These headlines were misleading or outright false. November’s Challenger Gray report makes clear that: 1. The October spike was anomalous. November fell by 53%. 2. Only 6,280 layoffs announced in November were attributable to AI. 3. For the year to date, AI has accounted for only 4.7% of total layoffs (and this number is likely high since it’s self-reported — CEOs would rather blame AI than their own job performance.) Regardless of what you believe AI will do in the future, it is not a major cause of job loss now. In fact, according to a new study from the Yale Budget Lab, AI has caused “no discernible disruption” in the labor market based on 33 months of data following ChatGPT’s release. Quite the contrary, AI is currently responsible for as much as half of U.S. GDP growth, including an infrastructure boom that has raised the salaries of many construction workers by 25-30%. The narrative that “AI is causing massive job loss” has no evidence to support it.