AsianFin -- Artificial intelligence is starting to reshape the U.S. labor market, and young technology workers are among the first to feel the fallout, according to Goldman Sachs.
In a research note published Monday, Goldman’s chief economist Jan Hatzius said AI’s impact on employment is “becoming increasingly visible in the data,” with the tech sector’s share of total U.S. jobs now slipping below its historical trendline.
Goldman’s analysis highlights a pivotal moment in November 2022—the launch of OpenAI’s ChatGPT—as the peak for tech sector employment. Since then, the industry’s headcount as a percentage of total U.S. jobs has steadily declined, signaling early signs of displacement linked to AI adoption.
The downturn has been particularly acute for younger workers. The unemployment rate for tech employees aged 20 to 30 has climbed nearly three percentage points since early 2024—more than quadruple the rise in the overall jobless rate over the same period, Goldman said.
While AI-driven productivity gains promise long-term economic benefits, the near-term labor dislocations are becoming harder to ignore, especially among entry-level and early-career tech roles.
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