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Recent Editions
Human Times
North America
Meta is targeting May 20 for a first wave of layoffs, with more coming later, three sources familiar with the company's plans have told Reuters. The parent of Facebook and Instagram will lay off about 10% of its global workforce, or close to 8,000 employees, in the initial round, one of the sources said. The company is planning further layoffs in the second half of the year, although details of these cuts, including date and size, are not yet settled, the sources said.
Full Issue
Human Times
UK
Unemployment in the UK is projected to exceed 2.1m for the first time since 2014, rising from 1.87m today. Economists at the EY Item Club predict the jobless rate will increase from 5.2% to 5.8% next year due to the economic impact of the Iran war. Matt Swannell, chief economic adviser at the EY Item Club, said: "The recent spike in energy prices and disruption to supply chains will be the biggest jolt to the jobs market since the pandemic." The forecast indicates a potential recession as living standards decline and consumer confidence plummets.
Full Issue
Human Times
Europe
Simon Johnson, the Massachusetts Institute of Technology professor who shared the 2024 Nobel Prize in economics, warns that AI could erode middle-class jobs and widen inequality unless policymakers start tackling the issue now. Johnson tells Bloomberg that while technical transformations create jobs, the current trajectory suggests a net loss of "jobs with dignity", and while alternative paths are possible, they are not guaranteed. He believes that governments need to be prepared and that institutions should be created to manage the impact of the technology.
Full Issue
Human Times
Middle East
Simon Johnson, the Massachusetts Institute of Technology professor who shared the 2024 Nobel Prize in economics, has warned that AI could erode middle-class jobs and widen inequality unless policymakers start tackling the issue now. Johnson tells Bloomberg that while technical transformations create jobs, the current trajectory suggests a net loss of "jobs with dignity", and while alternative paths are possible, they are not guaranteed. He believes that governments need to be prepared and that institutions should be created to manage the impact of the technology.
Full Issue