Sarah Jeddy

The “smart money” has weighed in on potential AI employment impacts. The best way to describe the new estimates from Goldman Sachs Research (GSR) is that they reflect the nature of how technological change actually happens, minus the techno-optimism or doomerism. GSR estimates that, as AI adoption accelerates, US unemployment could rise by about 0.5 percent.

As he addressed the joint press conference, Russian President Vladimir Putin immediately noted his gratitude to President Trump for suggesting the US-Russian Summit be held in Alaska as the state represents “… our common heritage, common history between Russia and the U.S., and many positive events have to do with that territory.

There are worse economic trends than slowing productivity. How about declining productivity for one? That’s the nasty trick pulled by the US construction sector. It’s been running in reverse for a half-century while the rest of the economy sped ahead. A new Richmond Fed study, “Five Decades of Decline: U.S. Construction Sector Productivity,” finds labor productivity in construction has fallen more than 30 percent since 1970. Over the same half-century, overall US productivity doubled.