As April's inflation data repeatedly exceeded expectations, anxieties about artificial intelligence replacing jobs have intensified once more. Labor economists point out that the sharp contraction in entry-level white-collar positions, combined with persistent high inflation, is creating structural pressure. Economists, including Kathryn Edwards, note that behind the AI panic lies a deeper fissure in the U.S. economy—the consumer-driven growth model is facing unprecedented challenges.

The "Uberization" of the Labor Market and the Disappearing "First Job" In response to recent waves of layoffs at tech giants like Snap and the sharp decline in entry-level job postings on platforms such as ZipRecruiter, economists warn that the U.S. labor market is undergoing profound transformation.

Data shows that approximately 70% of the U.S. economy relies on consumption, which in turn heavily depends on wage income. However, a trend termed "Uberization" is spreading: companies are increasingly moving away from offering traditional full-time, benefit-included "iron rice bowl" positions, instead breaking jobs into temporary contracts or gig work, shifting risk onto workers.

This model directly leads to a lack of job stability. As one blogger pointedly noted, "People without jobs can't afford gas at any price."

This implies that even if energy prices fall, if the foundation of the job market remains unstable, the core pillar of personal consumption expenditures will also be shaken.

AI and Tariffs: Who Is the Culprit? Although companies attribute layoffs to efficiency gains from AI, economists question this narrative. Experts like Brad Conger argue, "Artificial intelligence isn't replacing jobs; layoffs are paying for AI investments."

Data indicates that U.S. tech giants are projected to spend $650 to $660 billion on AI capital expenditures by 2026, with first-quarter layoffs already exceeding 50,000. This constitutes a form of "resource reallocation": companies are freeing up funds for expensive AI infrastructure and algorithm research by cutting labor costs. Additionally, import-driven inflation triggered by high tariffs is increasing operational pressures on businesses, forcing them to control costs through layoffs. This dual effect of "AI + tariffs" is simultaneously driving up goods prices and suppressing labor compensation.

The "Siphoning Effect" of Capital Flows The views of Edwards and others reveal a key paradox in the current economy: capital is not flowing into expanding production to absorb employment but is instead being heavily "siphoned" into investments in labor-substituting technologies. This trend is exacerbating the fragility of the U.S. economy, causing social anxiety to accumulate beneath seemingly robust nonfarm payroll data.