Anthropic Economist Questions Why AI Boom Hasn't Lifted US Unemployment as 20% of Firms Adopt It
Updated
Updated · The FP · Aug 19
Anthropic Economist Questions Why AI Boom Hasn't Lifted US Unemployment as 20% of Firms Adopt It
2 articles · Updated · The FP · Aug 19
Summary
Peter McCrory, Anthropic’s head of economics, argues the US labor market remains strikingly stable despite repeated warnings that AI would wipe out coding and other white-collar jobs.
20% of American companies already use AI in at least one business function, and adoption rises to 40% in the information sector—levels that, he says, should already be visible in employment data.
AI capability is also accelerating fast: quality-adjusted output grew more than 2,000% a year in both 2024 and 2025, even as unemployment has not meaningfully jumped.
McCrory says the puzzle matters beyond current data because AI is already automating parts of his own economics work, raising broader questions about whether today’s stability is temporary or forecasts of mass joblessness are overstated.