AI IS REPLACING JOBS At An ALARMING Rate Now

AI is now being blamed for tens of thousands of layoffs as tech companies continue cutting workers while investing heavily in automation and artificial intelligence. The Challenger Jobs Cuts report showed over 83,000 layoffs announced in April, making this the third-highest April layoff total since 2009. Meanwhile, jobless claims remain historically low, partly because many laid off workers are moving directly into the gig economy instead of collecting unemployment benefits. Tomorrow’s Big Jobs Report could dramatically impact mortgage rates, the Federal Reserve, and the housing market. Russell McDonald | NMLS 290837 | Broker CA DRE 01150730 Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628 Real Estate Broker - CA Dept of Real Estate #MortgageRates #JobsReport #AI #Layoffs #HousingMarket