Goldman Sachs Says AI Cost US Economy 16,000 Jobs Per Month

Goldman Sachs research finds AI trimmed U.S. monthly payroll growth by about 16,000 jobs over the past year and nudged the unemployment rate up ~0.1 percentage point, while AI-driven augmentation added roughly 9,000 jobs per month. The net drag on employment is modest but uneven: losses concentrate among younger, entry-level white‑collar roles (telephone operators, claims clerks, data-entry, customer service), while augmentation supports roles requiring judgment or physical presence (education, judges, construction managers). For markets such as the US SP 500, the study implies a small negative near‑term GDP and consumption headwind from weaker payroll growth, offset partially by productivity gains and demand from AI-related investment (data centers, corporate AI spending). The overall economic and market impact remains uncertain — further monthly jobs data and continued corporate AI spending through 2026 will determine whether substitution accelerates or is outweighed by new AI-driven activity.