Schmid Says AI and Aging Workforce Lead to Hiring Pause
Fed President Jeff Schmid says AI is causing firms to pause hiring to reassess skills. He also noted structural labor shifts as more baby boomers retire.
Xurve View
Xurve View
Kansas City Federal Reserve President Jeff Schmid stated on Friday that the labor market in the United States is undergoing structural changes as businesses navigate the rise of artificial intelligence and an aging workforce. Schmid noted that these factors are prompting a strategic pause in hiring as companies evaluate the specific skill sets required for the future.
