Goldman studied where AI is squeezing labor markets. Here's what it found

• Call center employment has dropped dramatically below trend: 39% in the U.S., 33% in Canada, and 27% in Germany, demonstrating AI's impact where automation tools are readily available
• Entry-level workers face disproportionate pressure, with AI causing 0.2-0.6 percentage point drags on annual headcount growth compared to just 0.1 percentage points across broader occupations
• AI adoption has reached 15-20% across major developed markets, with France, the U.S., Netherlands and U.K. leading adoption, while emerging markets lag at 10-15%

Summary: Goldman Sachs Study on AI's Impact on Labor Markets

Key Findings:

Goldman Sachs research reveals artificial intelligence is beginning to impact labor markets across developed economies, with effects concentrated in specific industries and worker segments since the second half of 2022.

Most Affected Industries:

Employment in AI-exposed sectors has declined sharply below historical trends:

• Call centers: U.S. down 39%, Canada down 33%, Germany down 27%
• Software publishing, management consulting, and advertising services: All showing significant below-trend employment
• Information and communication services: Slowdown observed across nearly all major developed markets since 2022, though most remain near or above long-run trends outside the U.S.

Impact by Worker Level:

Entry-level workers face disproportionate pressure. For every 10% occupational AI exposure, the employment drag ranges from:

• Australia: 0.6+ percentage points annual headcount decline
• U.S.: 0.2+ percentage points
• Broader workforce: Only 0.1 percentage point impact in France, Canada, and U.S.

AI Adoption Rates:

Current adoption across developed markets averages 15-20%, with emerging markets at 10-15%. France, the U.S., Netherlands, and U.K. lead adoption, while Italy, Japan, and New Zealand lag.

Market Implications:

Goldman concluded that while AI-related employment pressures are clearly visible globally, impacts remain limited to a relatively narrow set of industries and workers. Industries with greater AI automation exposure have experienced slower job openings growth, particularly pronounced in Germany, Australia, and the U.S. The trend suggests accelerating workforce displacement in automatable roles, with potential implications for consumer spending and economic growth patterns.