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Posted on 02/18/2026 5:34:55 PM PST by Mariner
Federal Reserve Governor Michael S. Barr issued a stark warning on Tuesday regarding the potential trajectory of artificial intelligence, outlining a scenario where rapid technological advancement will create a “jobless boom” that leaves a significant portion of the population “essentially unemployable.”
Speaking before the New York Association for Business Economics on Feb. 17, Barr discussed the profound uncertainty surrounding how generative AI will reshape the labor market. While current data suggests a gradual integration of the technology, Barr urged policymakers not to underestimate the risks. “We should be clear-eyed about how painful these changes could be for affected workers and how challenging it would be for the government and the private sector to successfully manage the fallout.”
(Excerpt) Read more at finance.yahoo.com ...
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AI and the humans that control it are not sympathetic entities.
Adoption will be slowed by the human backlash, pushing profitability further out.
AI is the final solution
This is why I tell my gf’s son to look into a career as an electrician or plumber, maybe with a community college degree in business administration so he can run his own shop someday. Many if not most white-collar jobs are going to disappear in the AI era.
Unemployable in the present job is not the same as unemployable. Old buggy whip makers found new lines of work.
Welcome Universal Basic Income!
In a closed walled garden yes. But that is not the world economy. Our companies have to compete on the world stage. China will not slow down their advancement. They want to own the commerce of the world, we are already on a knifes edge for reserve currency. We have no real choice but to evolve as fast as will be feasible for business. Those employees who learn to use AI as foundational to improve their individual contribution I believe will do well, those who think they will just have a job because they show up and do their time have a reckoning awaiting them. The sad reality or opportunistic reality if building new companies, is AI transforms the pace. AI agents can already, today replace many white collar jobs, every month more and more sophisticated agents will be available, allowing further adoption. I know many think if AI is some “useless toy”, it is not. Its just the way you used it, because many still think like its using Google… it isn’t but sure it can do that as well. In 44 hours of my time just recently I created an entire platform that will serve as my nexus for my employees. I own a Managed Services Provider in DC. It is already transforming and unifying what we had to pay for previously. (Monday.com, Jira, Github, solarwinds, Inventory tracking, etc). 44 hours… a complete software platform written in rust, extensible, fips compliant, STIG’d…my estimation is about 9 months of a team just 3 years ago. That is real, tangible benefit to my bottom line, and a savings if roughly 31k/year in licensing, just for my little company.
Large percentages of the population finding themselves destitute because of deliberate government policies are quite famous for their friendly demeanor...
The DC and Epstein class has no idea what is coming....
I wonder how far AI can go in automating the jobs of log truck drivers? Traffic in my area traffic is dominated by log trucks and chip trucks dominated by family (not Weyerhaeuser)operators. They operate in a radius of up to 200 miles of their home base. They only spend part of their days on the freeways. They have to go on dirt roads up into the hills for their loads and then drive to the various mills or log export yards. Of course there is no job security to begin with. but they are not about to be replaced en masse.
LOL! I love the Drama. LOL!
All those foreign workers brought in to do all the work that does not need to be done.
Thinking like a computer, you don’t need logs if you don’t need new homes and paper.
If everything is done electronically no need for paper.
If the workers no longer needed are eliminated there I no need for new homes.
Someone will have to drive the Scoops.
Seems to me that if AI is going to require fewer workers, then we need less immigration, not more. Because otherwise, all we're doing is important the unemployable.
A lot of people can still find jobs - I hear Antifa and other Democrats are paying people to join protests.
He must be taking about the majority of today’s population of Memphis.
Some people are already attacking robots. Particularly the robots that use AI to deliver food to people. They kick the robots, and pry open the doors to steal the food. But some just want to destroy the robots.
Unfortunately yes. There will be no other way to keep a large percentage of the population from.
sinking into poverty. A great number of people are suddenly going to be labeled as “useless or frivolous redundancy” if cold logic is going to be the predominant view of corporations. There will be a great deal of bitterness amongst the “left behinds”.
Adoption will be slowed by the human backlash, pushing profitability further out.
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This technology is the guaranteed road to socialism at a minimum.
Huge numbers of hopelessly unemployed and underemployed are not going to be pacified by anything less than an oppressive police state or a lavishing welfare state. Either way eventually the powers that be will grow tired of these idled unneeded burdens and they will be eliminated.
Yeah we need tradesmen, lumberjacks, fisherman, farmers and ranchers because they build and provide for people with JOBS. Even they’ll be needed less as this unfolds.
If a large percentage of the population is unemployed, who will be buying all the swell products and services AI will be kicking out?
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