Hiring is picking up across technology, transportation and defense, offering a counterpoint to fears that AI would trigger widespread job cuts as investors prepare for a pivotal week.
Large U.S. companies are showing renewed willingness to add workers after months of restraint, with hiring picking up across technology, transportation and defense. The shift offers a counterpoint to predictions that artificial intelligence would lead to a broad hiring wipeout. The labor backdrop comes as investors head into a potentially important week after this year’s stock rally weathered inflation, war and heavy AI spending, but showed signs of strain with the S&P 500 and Nasdaq composite each falling for a second straight week.