The New York Fed reports AI is not the main cause of the current hiring slowdown. Elevated interest rates and past overhiring play a major role. The Fed's analysis shows broad labor weakness, not automation, explains the trend. Most firms adopting AI are retraining workers, not initiating layoffs. Startups should focus on capital costs and macroeconomic pressures over AI fears.
https://startupfortune.com/new-york-fed-data-says-ai-is-not-driving-the-hiring-slowdown/