The Next Great Job Churn Is Already Starting: Conor Sen

The geography of employment in the US is being shaped by two distinct trends. The first is low levels of housing churn and, therefore, interstate migration, a normal part of the business cycle that should eventually turn around. More consequential are signs that artificial intelligence is beginning to suppress hiring in some of the most technology-centric parts of the country such as the San Francisco Bay Area — a shift that may portend a structural change in the labor market.

This is a useful time to look at changes in employment growth in different parts of the country and compare these with the ...