"White-collar number": AI could be behind the rising unemployment rate
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AI might be contributing to our rising unemployment rate.
Stats NZ data shows unemployment jumped to 5.6% in the June quarter, up from 5.3% in March.
It's the highest rate in 11 years and higher than most economists had been picking.
ABC Business Sales’ Chris Small told Ryan Bridge when you compare the South Island’s rate of 3.7% to the North Island’s 6%, it seems like more of a white-collar problem than a blue-collar one.
He says AI is filling a bit of a void for some business owners, which means they’re not hiring as many people.
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