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The prophet of the ‘Wired Belt’ confirms capitalism is finally eating itself

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America’s productivity boom started before AI, and a Stanford economist who decoded the Great Resignation says working from home is the reason why.

On May 20, about 8,000 Meta employees will be told their jobs no longer exist, while 6,000 job listings have vanished.

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Summary

The reporter told you this was coming. Call it AI-washing if you like. At their research center, Digital Planet at Tufts University’s Fletcher School, they built the American AI Jobs Risk Index — the first index to assess vulnerabilities spanning 784 occupations across all industries and regions in the U.S. Their finding: 9.3 million jobs and $757 billion in annual income at risk within five years. But here is what no one else was saying when they started this work, and what the data now confirms: it’s the geography that makes this a systemic crisis, not a labor story. The disruption will be felt most in the Wired Belt: knowledge-economy metros from Raleigh-Durham to Boston that face 3.6x the job loss and 5.2x the income loss of the Rust Belt cities that defined the last era of displacement.

Read full article at Fortune Technology →

#US Congress #Wired #Meta #U.S. #Rust