#CNBC Cramer warns the weak payroll report shows AI-related job losses are here: ‘It’s the beginning’
Cramer warns the weak payroll report shows AI-related job losses are here: ‘It’s the beginning’
CNBC’s Jim Cramer on Friday expressed concern about the surprisingly weak February jobs report.
The line that Cramer focused on most: the information sector of the economy lost 11,000 jobs last month. Over the past 12 months, it had lost an average of 5,000, according to the Bureau of Labor Statistics. This broad employment group includes telecommunications, software publishing and the media, among others.
Cramer said when he saw that above-trend 11,000 decline, his conclusion was: “OK, that has to be AI. Enough. Enough.”
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