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But we saved everything 🙂.
Ernie Tedeschi pushes back on recent claims about a so-called record high layoff rate, clarifying that the current level is only slightly higher than those seen in 2022 and 2023.
He emphasizes that the layoff rate is still consistently below what was observed before the pandemic, noting it does not approach an actual record high, even when disregarding the worst period of the pandemic.
Tedeschi has recently addressed other economic trends tied to artificial intelligence. He noted that AI-related capital expenditures may provide limited direct gains for U.S. GDP due to reliance on imported equipment. Tedeschi has also said that slower growth in AI capital spending could reduce U.S. GDP growth from 2% to roughly 1.5-1.75%.