Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
M Stanley Study: AI Layoff Wave Deals Blow to UK; Entry-level Positions with 2-5 Yrs Experience Most Affected
Recommend 1 Positive 2 Negative 2 |
||||
|
||||
|
The repercussion of the AI wave on the labor market is more severe in the UK compared to other major countries, Bloomberg reported, citing a study from Morgan Stanley. The net job loss ratio in the UK due to AI hit 8%, which is not only double the international average but also the highest among major economies such as the US, Germany, Japan, and Australia, data showed. Amidst multiple challenges such as rising wages, sluggish economic growth, and unstable political situations, UK companies are also facing widespread adoption of AI technology, leading to the fastest reduction in workforce since 2020. The youth unemployment rate climbed to 13.7% in the three months ending last November, the highest since 2020, according to official statistics. Overall job opportunities have shrunk by more than one-third since 2022, equivalent to a reduction of about 500,000 positions. Employers interviewed indicated that they would prioritize cutting entry-level positions requiring 2-5 years of experience. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
