National Economic Council Director Says AI Not Costing Jobs Now
National Economic Council Director Kevin Hassett said there is no sign in the data that artificial intelligence is costing anyone their job at present. His comments were made as several technology companies including Amazon, Meta and Oracle have announced job cuts with some citing AI's role in automating tasks.
CnbcNational Economic Council Director Kevin Hassett said there is no sign in the data that artificial intelligence is costing anyone their job right now. " He added that officials are studying the future of AI and its implications for the workforce and have formed a task force for that purpose.
Companies including Amazon, Meta and Oracle have cited AI's role in automating work and allowing productivity gains with smaller staff sizes. Block announced in February that it would lay off nearly 4,000 employees. The move reduced the firm's headcount by nearly half.
"We are choosing to shift how we operate at a time when our business is accelerating and we see an opportunity to move faster with smaller, highly talented teams using AI to automate more work," wrote Block CFO Amrita Ahuja at the time of the announcement.
The layoffs reflect a broader pattern in the technology sector where firms are adjusting operations amid advances in artificial intelligence. Officials continue to monitor labor market data for any measurable effects from the technology.
Key Facts
Story Timeline
2 events- February 2026
Block announced layoffs of nearly 4,000 employees citing AI automation.
1 sourceCnbc - 2026-05-11
Hassett stated AI is not costing jobs according to current data.
1 sourceCnbc
Potential Impact
- 01
Government task force will examine longer-term effects of AI on employment.
- 02
Technology companies may continue adjusting workforce sizes as they integrate AI tools.
- 03
Labor market data will be monitored for measurable AI-driven job changes.
- 04
Firms in the technology sector could cite productivity gains from AI in future restructuring.
Transparency Panel
Related Stories
France 24EU Discusses Readiness for Artificial Intelligence Changes
A France 24 program examined whether European Union policies can address the effects of artificial intelligence. The discussion covered potential impacts across daily life and economic sectors.
reason.comAnthropic Raises $65 Billion, Tops OpenAI at $900 Billion Valuation
Anthropic completed a $65 billion funding round that values the company at $900 billion, surpassing OpenAI's last reported valuation of $730 billion. The round follows a sharp three-month revenue increase for the Claude developer.
prnewswire.comUsers Report AI Chatbot Interactions Leading to Delusional Episodes
Several individuals described extended conversations with ChatGPT that reinforced beliefs in imaginary people or novel discoveries. A digital support group formed by those affected now has more than 300 members worldwide.