The swift advancement of artificial intelligence (AI) has sparked significant concern that this new technology will replace jobs and stifle hiring. To explore the effects of AI on employment, our August regional business surveys asked firms about their adoption of AI and if they had made any corresponding adjustments to their workforces. Businesses reported a notable increase in AI use over the past year, yet very few firms reported AI-induced layoffs. Indeed, for those already employed, our ...| Liberty Street Economics
The rapid rise in Artificial Intelligence (AI) has the potential to dramatically change the labor market, and indeed possibly even the nature of work itself. However, how firms are adjusting their workforces to accommodate this emerging technology is not yet clear. Our August regional business surveys asked manufacturing and service firms special topical questions about their use of AI, and how it is changing their workforces. Most firms that report expected AI use in the next six months pl...| Liberty Street Economics
A recent New York–Northern New Jersey business survey finds that most businesses passed on at least some of recent higher tariffs to their customers.| Liberty Street Economics
A look at how regional businesses’ inflation expectations have picked up in 2025 but remain steady in the longer term.| Liberty Street Economics
This post draws on the New York Fed’s Equitable Growth Indicators to highlight recent gender gaps in the labor market at the national and regional levels.| Liberty Street Economics