TLDR A report from Oxford Economics questions the narrative that artificial intelligence (AI) is causing widespread job losses. The analysis indicates that while some layoffs are attributed to AI, these account for only about 4.5% of total job losses, with economic conditions being a far greater factor. The report suggests that companies may be framing layoffs as due to AI to present a positive narrative to investors, rather than addressing traditional business challenges. Additionally, it points out that productivity growth has not significantly improved, contradicting the notion that AI is replacing workers on a large scale. Lastly, the increase in graduate unemployment is viewed as cyclical rather than structural, linked to an oversupply of degree holders.

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