US employers cut 92,000 jobs last month, the Labor Department announced Friday, with the losses affecting nearly every major sector. The unemployment rate rose to 4.4 percent, according to The New York Times. In an op-ed for the same publication, former Commerce Secretary Gina Raimondo warned that artificial intelligence (AI) is transforming work faster than the workforce can adapt, and millions of Americans, whether in entry-level or even management jobs, could soon find themselves out of jobs and without prospects.
The data shows an overall downward trend in the number of US jobs, despite solid growth in January. Employers shed 17,000 jobs in December, well below the estimate of a 48,000 increase. January's number was in turn revised down slightly to 126,000.
US jobs declined in February across sectors ranging from leisure and hospitality (-27,000), to manufacturing (-12,000) and construction (11,000).
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