Nobel economist Pissarides says AI impact on employment overstated

Christopher Pissarides, Nobel laureate in economics (2010), told the 25th Society for the Advancement of Economic Theory conference at Brazil’s IMPA that fears of massive job loss from artificial intelligence are not supported by macro‑economic data. He noted, “There are a few examples of increased unemployment that get all the publicity, but if you look at the macro picture, these things are very, very small.”

Pissarides said AI is primarily a tool that assists workers, while traditional sectors such as construction continue to hire and new roles are emerging in security, robotics, maintenance and data analysis. He warned that rapid skill obsolescence affects workers directly involved with technology, urging continuous learning, and highlighted the concentration of about 60 % of AI investment in a few global metropolitan hubs, which could widen regional and wage inequalities. He called for public‑sector action on education and labor policies to ensure broader benefits of AI.