Jobless Boom: US Economy Booms, Jobs Stagnate

US Economy Surges, Jobs Stagnant: A Jobless BoomThe US economy continues to outperform expectations with a robust GDP growth of 4.3% in the third quarter, the highest since 2023. However, job creation remains stagnant, leading to a phenomenon known as a jobless boom. Big tech companies, such as Amazon, Microsoft, Meta, Google, and Tesla, have been investing heavily in AI, driving economic growth without creating new positions. White-collar workers are finding it nearly impossible to secure new roles, while those employed are holding onto their jobs tightly. Unemployment has risen to 4.6%, the highest since 2021, and job growth remains sluggish despite low overall layoffs. Consumers have continued to spend strongly, even without income gains, amid inflation and tariff worries. If AI investments start delivering returns, this jobless boom could intensify in 2026. Despite the stagnant job market, President Trump hails a golden age, leaving economists to watch closely for whats next.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.