Members phkrause Posted Wednesday at 11:01 PM Author Members Posted Wednesday at 11:01 PM The economy grows, but paychecks lag The US economy continues to grow, but American workers aren’t fully reaping the financial rewards. Data shows that the US labor share — the amount of income that goes to workers rather than to business profits — hit an all-time low this year. “It’s really telling you that workers have less and less power in this technology age and certainly in the AI age,” said Heather Long, chief economist at Navy Federal Credit Union. “The rewards, the financial gains, are mainly going to shareholders, to the owners of the capital and less and less to your typical W-2 worker.” + Read more: Workers are getting a shrinking slice of America’s economic pie + The bigger picture: AI could force 11 million US workers into new careers by 2035 Quote phkrause When the righteous are in authority, the people rejoice; But when a wicked man rules, the people groan. Proverbs 29;2
Members phkrause Posted Friday at 10:30 PM Author Members Posted Friday at 10:30 PM Exclusive: Jobless boom Data: CivicScience. Chart: Erin Davis/Axios Americans are optimistic AI will grow the economy — but not that it will create jobs in the process, Axios' Ben Berkowitz writes from the first release of the new Axios-CivicScience AI Sentiment Index, out this morning. Why it matters: The AI boom is often criticized as a jobless one, which may explain why sentiment continues to run so negative on what is otherwise such a transformative technology. 💡 The new monthly Axios-CivicScience index tracks Americans' views across six measures: AI's effects on quality of life, society, jobs and economic growth, plus support for AI development and new data centers. By the numbers: October's net sentiment was 41.8 on a 0-100 scale, indicating broad negativity on AI. Of the six components, only economic growth had a positive sentiment score. 😨 Reality check: While economic growth net sentiment (positive responses minus negative responses) was +10, "create more jobs" sentiment was -30.4. That indicates a massive gap between what people think AI will do collectively and its individual impact. Quote phkrause When the righteous are in authority, the people rejoice; But when a wicked man rules, the people groan. Proverbs 29;2
Members phkrause Posted Sunday at 01:49 AM Author Members Posted Sunday at 01:49 AM The working class is more diverse than ever before The working class is a concept that carries tremendous political weight. But there is no official definition of what it is, and popular views of a mostly white working class are out of date. https://www.epi.org/publication/the-working-class-is-more-diverse-than-ever-before/? Quote phkrause When the righteous are in authority, the people rejoice; But when a wicked man rules, the people groan. Proverbs 29;2
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