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In related news, Rep. Alexandria Ocasio Cortez (D-NY) called Elon Musk "one of the most unintelligent billionaires I've ever met or seen. The wealth doesn't match the wisdom. Sure, he's built rockets, electric cars, satellites, and AI. He's now the richest man in the world, but what has he done for others?" Musk pointed out that "I have created products that are in great demand. Customers willingly buy them. More than 150,000 people have jobs because of my entrepreneurship. This is what I have done for others. What have you done for others? You currently produce nothing that folks would...

All net job growth is going to native-born Americans as foreign-born employment continues to decline, a new jobs report from the Bureau of Labor Statistics issued on Tuesday reveals. The jobs report showed that, for another consecutive month, native-born Americans have gained jobs, while foreign-born workers continue to fall out of the workforce.

When the chairman of AI chip startup Rivos wanted Intel to bid for the company, he had no need to phone the chip giant. That’s because the chairman of Rivos was also Intel’s CEO: Lip-Bu Tan. Reuters was unable to determine how much the Intel CEO profited personally as a Rivos shareholder because the financials are not public. But in a blog post on its website, Tan’s venture-capital firm, Walden Catalyst, touted how he had delivered a “successful outcome” for its investors and congratulated the Rivos team for their “remarkable achievement.” The events show one of at least three instances...

The artificial intelligence boom may not be as real as it seems. That's according to Pat Gelsinger, former CEO at Intel (INTC), who said the biggest players in AI are now funding their own growth. "The quality of that revenue that they're committing in the future simply isn't as good, right? Because essentially I'm buying my own future revenue. Because rather than you putting your capital at risk, I'm putting my capital at risk. Deals, investments, and credits are ricocheting between Microsoft (MSFT), OpenAI (OPAI.PVT), Google (GOOGL, GOOG), Anthropic (ANTH.PVT), and Amazon (AMZN), forming what Gelsinger calls "circular financing." The...

A new labor market analysis from Massachusetts Institute of Technology suggests that artificial intelligence is no longer a future threat to jobs. It is already capable of performing tasks tied to 11.7 percent of total U.S. wages. That represents as much as $1.2 trillion in economic exposure across major sectors including finance, health care, logistics and professional services. The findings come from a newly developed labor simulation system known as the Iceberg Index. The project was built jointly by MIT and Oak Ridge National Laboratory and models how today’s AI tools interact with the real American workforce at a granular,...

As the calendar comes to an end, and with it, we approach the end of the first year of the second Trump administration, polling companies and media sites are naturally looking for news stories about how the electorate “feels” about the economy. It’s a permanent question, of course, as it should be, on sites like RealClearPolitics and other polling-tracker focused sites, but there has been an uptick lately, and the question “How do you rate President Trump’s handling of the economy?” is now more frequently in the headlines than usual. The problem is, it’s an amazingly subjective question, because there...

Last week a radio host in Salt Lake City asked me a question I didn’t expect. We’d been talking about my “jobs Americans won’t do” article, which kind of kicked the anthill, and everything stayed within the usual lanes: illegal immigration, wages, hiring incentives, hollowed-out towns. Then, at the very end, he asked the only question that really matters:“So how do we fix it?”Not describe it or rant about it. Fix it.My answer, essentially, was, "It's complicated." There isn’t a bumper-sticker answer. And there certainly isn’t a partisan one. The problem goes much deeper than illegal immigration, though illegal immigration...

New York Federal Reserve President John Williams said Friday he expects the central bank can lower its key interest rate from here as labor market weakness poses a bigger economic threat than higher inflation. With divisions in the central bank running high over the future of rates, Williams took the side of the doves who still see policy as a bit restrictive when it comes to economic growth. “I view monetary policy as being modestly restrictive, although somewhat less so than before our recent actions,” he said in remarks for a speech in Santiago, Chile. “Therefore, I still see room...

The Week Jobs Were Better Than Expected and the Fed Was Worse Than We ThoughtWelcome to Friday! This is the Breitbart Business Digest weekly wrap, where we catch up on the economic and finance news of the seven days already lost to history.This week was one in which mysteries were uncovered. The government got around to unveiling the truth about jobs in September and the mysterious resignation of yet another Fed official. Hiring by restaurants appeared to put to rest fears of a restaurant recession. Anchors aweigh!Better Late Than Never: America’s Unexpected September Jobs SurpriseThe Department of Labor released its...

Following the gangbusters’ September jobs report that vastly eclipsed expectations, CNN hacks are now awkwardly doing the Watusi dance to try and explain around why the Trump economy isn’t the disaster they said it was. The November 20 headline from CNN Business Executive Editor David Goldman, senior economy writer Alicia Wallace, and senior reporter Matt Egan was just chef’s kiss: “Wait, I thought the economy was terrible. What happened?” The authors gruffed over how “Entering this week, the perception of America’s economy was overwhelmingly negative.” But then, CNN’s apparent hopes to bury Trumponomics once and for all backfired. After the...

Charlotte, N.C., is making headlines this week because dozens of construction sites have gone silent. ICE swept through the region, and the labor force evaporated almost instantly. A major American city discovered, in real time, that its building boom was being held together by workers who couldn’t legally be there. Watching that footage hit me hard, because I’ve seen it before — not on the evening news, but in the slow collapse of my own childhood community. I grew up forty miles north of Louisville, Ky., in a one-stoplight town held together by tobacco, construction, and the kinds of gritty...

U.S. employers added a surprisingly solid 119,000 jobs in September, the government said, issuing a key economic report that had been delayed for seven weeks by the federal government shutdown. The unemployment rate rose to 4.4% in September, highest since October 2021 and up from 4.3% in August, the Labor Department said Thursday. The unemployment rate rose partly because 470,000 people entered the labor market — either working or looking for work — in September and not all of them found jobs right away. The increase in payrolls was more than double the 50,000 economists had forecast. But Labor Department...

U.S. job growth defied expectations in September, according to a Labor Department report issued nearly seven weeks late due to the government shutdown. Payrolls rose by a seasonally adjusted 119,000 on the month, the strongest gain since April, the Labor Department said Thursday.

Jim Farley, the CEO of Ford, is claiming that he cannot fill 5,000 mechanic jobs – even though they pay $120,000 per year. This is a problem that TV personality Mike Rowe has been talking about for years. We don’t have enough young people in the country who are learning skills, such as working with tools, or how to do things like be an auto mechanic. Meanwhile, we have a surplus of people in college who are going into massive debt wasting their time on useless topics like gender studies, women’s studies, and various social justice topics. The New York...

As AI transforms software development, the industry is likely to see job growth—not loss—while developers should become a more strategic and valuable asset. Key TakeawaysDespite concerns about job loss for software developers, AI should create more jobs as companies build increasingly complex applications.As AI coding tools become mainstream, developers are shifting toward more strategic roles.A recent Morgan Stanley AlphaWise survey shows CIOs plan to increase software spending by 3.9% in 2026, outpacing other IT categories.The software development market could grow at a 20% annual rate, reaching $61 billion by 2029. As artificial intelligence reshapes the software industry, concerns about its...

“We are in trouble in our country. We are not talking about this enough,” Farley told host Monica Langley. “We have over a million openings in critical jobs, emergency services, trucking, factory workers, plumbers, electricians, and tradesmen. It’s a very serious thing.” While President Donald Trump has centered his economic agenda on bringing manufacturing back to the U.S., there remains a gap between the number of factory jobs open and the number of people willing to fill them. There were more than 400,000 manufacturing jobs open as of August, according to preliminary data from the Bureau of Labor Statistics, despite...

Judging by current data, you'd think there's literally a job out there for anyone who wants one. Looking deeper under the hood, though, tells a different story.The level of job openings as reported by the Bureau of Labor Statistics for years has shown there are at least as many available positions as there are unemployed workers.But comparing the openings with actual hirings shows that not all those jobs are being filled.Not even close, in fact: Since the beginning of 2024, job openings have outnumbered job hirings by more than 2.2 million a month, according to BLS data. That points to...

In a shifting labor landscape, small businesses are feeling the pulse of the economy as they navigate notably mixed job market signals. According to the latest NFIB Jobs Report for August 2025, 32% of small business owners report unfilled job openings, marking a slight decline from July. This trend reflects broader challenges in finding qualified candidates, a concern that continues to weigh heavily on the minds of business owners.Small businesses are often the cornerstone of the economy, yet they find themselves grappling with persistent staffing issues. While 32% indicates progress since pandemic lows, it continues to illustrate the labor market’s...

Ever since OpenAI’s ChatGPT was introduced in November 2022, experts and executives have been predicting that it and other AI models will eliminate untold jobs — forecasts that seem, at a first glance, to have been borne out by the plethora of tech sector layoffs in the wake of its debut. But a new study from Yale University found quite the opposite in the United States, which should give anxious workers some relief as it goes against the hyped up prognostications of many tech CEOs. “While anxiety over the effects of AI on today’s labor market is widespread, our data...

Technology firms led private-sector job cuts as employers looked to cut costs and address AI. Last month was the worst October for layoff announcements since 2003 as companies slashed roles to save money, pared back pandemic-era hires, and planned ahead for artificial intelligence, according to the global outplacement firm Challenger, Gray & Christmas. Employers announced 153,074 cuts last month, compared to 55,597 cuts in October 2024. Last month’s figure was “the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008,” Andy Challenger, chief revenue officer for Challenger,...