Episode Overview
The BLS report from last Friday held a detail Pete and Peter didn’t catch the first time around: of the 162,000 jobs added in August, 158,000 went to women, about 97% of the total. Women now hold slightly more than half of all payroll jobs in the US, only the third time that’s happened in history. The gains came almost entirely from healthcare, education, and hospitality, all women-dominated fields, while male-dominated sectors like transportation and technology declined. Men’s labor force participation dropped from 67.9% to 67.2% over the same period, a shift Pete and Peter attribute partly to baby boomer men retiring out of the workforce.
They also cover a Richmond Fed report showing more Americans are working two jobs than at any point in the last 26 years, a trend that lines up with this week’s inflation numbers: wages rose 3.1% while prices climbed 3.4%. About half of multiple job holders have a college degree, undercutting the idea that a second job is a young or unskilled worker’s problem.
On AI, a former Anthropic employee’s viral tweet claiming the industry is “dooming” society, along with another Anthropic employee’s public estimate of a greater than 10% chance AI causes human extinction within a decade, dominated headlines this week. Pete and Peter treat both claims with some skepticism given who’s making them, but agree the underlying concern about AI’s pace isn’t unfounded. They also cover Orlando’s new robotaxi rollout, a protest by 30 robots in Poland demanding AI regulation (organized, oddly, by a man who owns both a robotics company and a staffing agency), and Bernie Sanders’ proposed “AI sovereignty fund,” which would compensate the public for the data used to train AI models.
Elsewhere: small businesses are still struggling to fill open roles, and Pete and Peter say the real problem is finding candidates willing to work for a company outside the well-known brand names, not pay. And the Trump administration is moving to eliminate the 60-day grace period H-1B visa holders currently get after losing a job, a change that would put visa holders at risk of near-immediate deportation if it goes through.
Key Takeaways
- Women took 158,000 of the 162,000 jobs added in August, about 97% of the total
- Women now hold slightly more than half of all US payroll jobs, only the third time in history
- Men’s labor force participation dropped from 67.9% to 67.2%
- More Americans are working two jobs than at any point in the last 26 years
- Wages rose 3.1% while inflation climbed 3.4%
- An Anthropic employee’s claim of a greater than 10% AI extinction risk within a decade
- 30 robots protest for AI regulation in Poland
- The Trump administration moves to end the 60-day H-1B grace period after job loss
28 minutes
