Top economist claims zero evidence of AI job losses despite 116,000 tech layoffs in 2025

A top economist says there's "zero evidence" AI is killing jobs, despite thousands of actual layoffs

Serving tech enthusiasts for over 25 years. TechSpot means tech analysis and advice you can trust. A hot potato: Concerned that your job could become one of the many lost to AI? According to Apollo Global Management's chief economist, you're worrying about nothing! Torsten Sløk claims that there is "zero evidence" of job losses because of AI, which will likely come as a surprise to the tens of thousands of people who have lost their jobs to AI. Writing in a post last week titled "Zero Evidence of AI-Related Job Losses," Sløk points to ADP employment data to support his conclusion. The report found that private companies added almost 110,000 people to their payrolls in April. The executive argues that instead of lowering headcounts, many firms are hiring AI implementation experts. "The bottom line is that the AI spending boom is stoking both employment and inflation," Sløk writes. "It is Jevons paradox playing out in real time: cheaper technology is creating more demand and more jobs." There seems to be a sudden spate of claims that AI isn't actually taking people's jobs. OpenAI boss Sam Altman recently said he was "delighted" that his AI jobs apocalypse prediction was wrong. Box CEO Aaron Levie, Dell boss Michael Dell, and Goldman Sachs CEO David Solomon all have similar opinions. The fact that they are heads of companies heavily invested in AI definitely has nothing to do with it. To suddenly start claiming AI isn't causing job losses almost feels like gaslighting. There have been almost 116,000 layoffs in the tech world so far in 2026, quickly approaching the 124,000 that we saw for the entirety of 2025. And a massive number have been tied to AI, either through direct job replacement or companies' resources being redirected toward AI infrastructure. It was only last week that Wix laid off 1,000 people while citing the "fast evolution" of AI. Earlier this year, Block laid off over 4,000 people and couldn't have been clearer that it was because of AI reducing staffing needs. Intuit, Meta, Amazon, Cisco, IBM - the list of companies that have done the same thing is an extensive one. The future doesn't look much better. A recent survey of almost 1,000 executives found that 99% said they expected AI to lead to reduced worker numbers at their companies in the next two years. While it might be true that jobs are being created as a result of AI adoption - and that some companies blame the technology even when the layoffs have little to do with it - saying there is no evidence of AI-related job losses seems misleading at best and disingenuous at worst.

'Zero evidence': Apollo's chief economist says AI-related job losses aren't happening

* Torsten Sløk says there's been "zero evidence" of AI-induced job losses * Hiring for AI specialists, data center staff and more has surged * Jevons Paradox has caused increased demand, despite efficiency Apollo Global Management's chief economist Torsten Sløk declared in a blog post that "there is zero evidence of job losses because of AI," countering years of concerns that artificial intelligence could replace human workers. However, while Sløk claims that there's no net loss of jobs, he does at least acknowledge the widespread displacement caused by shifting priorities. Now, we're seeing more demand than ever for AI specialists, engineers, data center staff and infrastructure and energy workers to keep up with our growing consumption of AI. "There is zero evidence of job losses because of AI" Challenging the concept that AI has caused job losses, Sløk reframed the AI boom as something that's actually boosting employment and wages in some of the sectors most impacted by AI, like semiconductors, data centers, energy, networking and cloud. He also referenced the Jevons Paradox, noting that despite huge efficiency gains causing knowledge work to become cheaper, firms are consuming more of it and hiring more workers to fill that growing gap. Just like previous revolutions, AI is still set to cause a major labor market disruption, with many companies blaming tens of thousands of layoffs directly on the technology, however critics argue this is often a label slapped onto cost-cutting measures to tackle overhiring and changing priorities. On that note, many tech giants cutting workers have simultaneously opened up positions in other high-growth areas, backing up the narrative of a 'shift' instead of a 'net loss'. "The bottom line is that the AI spending boom is stoking both employment and inflation," Sløk concluded (via Business Insider). Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.

Top Economist Says There Is 'Zero Evidence' Of AI Job Losses Despite Growing Layoff Fears - Apollo Global

In a blog post on Friday, titled Zero Evidence of AI-Related Job Losses, Sløk cited ADP employment data and said companies are increasingly hiring AI implementation specialists while data center construction is boosting demand for workers, semiconductors, equipment and energy. He argued that the ongoing AI spending boom is supporting both employment and inflation. Sløk also described the trend as an example of "Jevons paradox," the economic theory that greater efficiency can increase overall demand rather than reduce it. He said cheaper technology can lead to more economic activity and ultimately more jobs. AI Jobs Debate Continues Layoff Concerns Remain The optimism contrasts with growing concerns from some policymakers and employers. Earlier this month, Sen. Elizabeth Warren (D-Mass.) warned that AI could trigger mass layoffs and called for stronger worker protections if large-scale displacement occurs. Separately, Challenger, Gray & Christmas reported that AI was the leading reason cited for announced layoffs in April, accounting for 21,490 planned job cuts. For now, Sløk argues the labor market data tells a different story. His conclusion: AI investment is creating demand for new skills and new jobs faster than it is eliminating existing ones. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.