Morgan Stanley economists say AI-driven job displacement in the US remains limited but is becoming more pronounced. As of June 2026, AI replacement could increase the US unemployment rate by up to about 15 bps, versus 10 bps in December 2025. Signs of replacement are strongest among younger workers.

2026-08-20

Morgan Stanley economists say AI-driven job displacement in the US remains limited but is becoming more pronounced. As of June 2026, AI replacement could increase the US unemployment rate by up to about 15 bps, versus 10 bps in December 2025. Signs of replacement are strongest among younger workers.