Artificial intelligence is affecting the labor market, though not in the way people might think.<\/p>\n
That\u2019s according to Torsten Slok<\/a>, Apollo Global Management\u2019s<\/a> chief economist, who told<\/a> Bloomberg News on Saturday (Aug. 22) that the impact of AI can be seen on weaker wage growth rather than overall employment.<\/p>\n Slok and fellow research Sania Edlich<\/a> looked at around 300 occupations broken into high- and low-AI-exposure groups and studied how they fared before and after the advent of ChatGPT, finding that the wages of workers with AI exposure grew 6.7% more slowly than people whose jobs had lower exposure to AI.<\/p>\n This effect was more pronounced among lower-income workers, the report said. Slok added that AI has accelerated the rate of business formation, which is now at a record high.<\/p>\n \u201cSo far the dominating effect has been that there is also a much more dynamic economy where people can now invent ideas, use agents, use loops, graphs to come up with ideas and as a result, create more businesses,\u201d he said in an interview with Bloomberg.<\/p>\n The report said that this analysis provides another data point in a growing debate over how AI will transform the job market. Bloomberg noted that it contrasts with other findings, like a recent Bureau of Labor Statistics<\/a> report that examined 18 occupations with AI exposure, finding a 0.2% drop in jobs as of May 2025 from the prior year, with overall payrolls climbing 0.8%.<\/p>\n And economists at Goldman Sachs<\/a> said in May that fields \u201chighly exposed to AI substitution\u201d saw a faster decline in job openings than others.<\/p>\n Meanwhile, recent research by PYMNTS Intelligence shows the effect of AI on Labor Economy workers, or those earning up to $25 an hour and typically less than $50,000 per year.<\/p>\n \u201cThe Resilience Deficit: Labor Workers in an Automated Economy\u201d<\/a> found that AI is reaching all types of workplaces, with 37% of these workers saying their employer had introduced new AI or automation tools in the last 12 months.<\/p>\n At the same time, the research also found that lower-income workers are getting less training, showing less confidence and enjoying fewer financial buffers to handle disruption.<\/p>\n \u201cThe findings also suggested that AI\u2019s impact<\/a> is moving beyond Silicon Valley and corporate offices into warehouses, restaurants, hospitality, logistics and caregiving jobs that make up a large share of everyday consumer spending,\u201d PYMNTS wrote earlier this year.<\/p>\n