Apollo's Slok Says AI Curbs Wage Growth, Leaves Job Losses Insignificant for Now
Updated
Updated · Bloomberg · Aug 22
Apollo's Slok Says AI Curbs Wage Growth, Leaves Job Losses Insignificant for Now
1 articles · Updated · Bloomberg · Aug 22
Summary
Torsten Slok said Apollo’s review of AI adoption found little evidence of broad job displacement, calling the employment fallout so far “insignificant.”
Weaker wage growth is where the impact is showing up instead, he said, suggesting AI is pressuring pay before materially reducing headcount.
The assessment cuts against years of warnings about mass layoffs from AI and points to compensation, not employment, as the labor market’s first pressure point.