Public Administration, Health Care, and Social Assistance sectors carried the bulk of August’s growth, offsetting contractions in Leisure, Hospitality, and Retail. This cooling trend is further evidenced by a 3% month-over-month decline in active job postings, which now total 18.3 million. Employers are also dialing back on compensation, with advertised salaries in new postings dipping 3.4% as the competition for talent loses its recent intensity.

Despite the broader economic slowdown, the data from Revelio Labs suggests that artificial intelligence is reshaping the workforce through shifts in opportunity rather than mass displacement. Since November 2022, employment in the most AI-exposed roles has dropped 6% relative to those least affected by the technology. However, firms integrating AI are actually expanding their headcounts faster than non-adopters, and companies with high AI exposure are reporting fewer layoffs than their peers. Lisa Simon, Chief Economist at Revelio Labs, noted that while the labor market is becoming increasingly uneven for younger professionals, there is no current evidence of a broad, AI-driven wave of job losses.