Million Missing Jobs Clearly Shows AI Is 'Automating Away Tech Jobs,' Amid 'Stagflation' Worries, Warn Economists - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)

Group 1 - The Bureau of Labor Statistics (BLS) has revised U.S. job numbers downward by 911,000, raising concerns about the labor market's strength and expectations for a Federal Reserve interest rate cut [1][4][5] - The revision is the largest in U.S. history, indicating a significantly weaker job market than previously understood, with implications for economic momentum entering 2025 [3][5] - Specific sectors, particularly the tech industry, have seen notable job losses attributed to AI automation, alongside cuts in leisure, hospitality, retail, and professional services [2][3] Group 2 - The downward revision of jobs has led to mixed sentiments regarding the Federal Reserve's potential rate cuts, with some analysts suggesting it could dampen recent market rallies [4][5] - The revision reflects a -0.6% change compared to a historical average of +/-0.2%, signaling a deteriorating labor market that may prompt policy action from the Fed [5] - Political reactions include criticism from President Trump, who claims the Fed is "dangerously behind the curve" in response to the job market data [6]