Will AI lead to massive unemployment? Goldman Sachs doesn't believe so

Wallstreetcn
2025.07.29 00:50
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Goldman Sachs economists believe that artificial intelligence will increase productivity in the United States by 15%, with their baseline estimate being that the unemployment rate will peak at 4% in the mid-2030s. In the case of large-scale early adoption, there are other scenarios that could cause the unemployment rate to rise by as much as 2%. Goldman Sachs states: "The prediction that technology will reduce the demand for human labor is long-standing but poorly recorded... While technology destroys jobs, it also directly increases the demand for workers in new occupations and indirectly increases the demand for workers through technology-driven overall demand growth."

Goldman Sachs economists believe that artificial intelligence will increase productivity in the United States by 15%, with their baseline estimate being that the unemployment rate will peak at 4% in the mid-2030s. In the case of large-scale early adoption, there are other scenarios that could cause the unemployment rate to rise by as much as 2%.

Goldman Sachs states: "The prediction that technology will reduce the demand for human labor is long-standing but poorly documented... While technology destroys jobs, it also directly increases the demand for employees in new occupations and indirectly increases the demand for employees through technology-driven overall demand growth."

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