Federal Reserve Study Links AI Adoption to Decline in Developer Hiring
A Federal Reserve study found that employment growth for U.S. programmers dropped by about 50% after the launch of ChatGPT in November 2022. The research attributes this decline to AI adoption, with programmer employment in IT and software sectors essentially flatlining. The study suggests that AI may have caused an occupation-specific shock, leading to a potential loss of around 500,000 jobs over three years.
Topics: AI impact on jobs ChatGPT developer employment Fed study labor market trends