Federal Reserve Vice Chair Jefferson said the current backdrop of weak hiring and low layoffs is being driven by uncertainty, according to a report cited by ChainCatcher from Jin10. He said concerns tied to artificial intelligence are a particular factor behind that uncertainty. The remarks point to a labor market environment where companies are slowing recruitment while also holding back on job cuts. ChainCatcher carried the item as a policy and regulation newsflash. No additional details were provided in the brief report.
According to Jin10, as cited by ChainCatcher, Federal Reserve Vice Chair Jefferson said the current environment of low hiring and low layoffs is being driven by uncertainty, especially concerns around artificial intelligence.
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