Top earners are more afraid for their employment than lower income as AI threat increases

Group 1 - The rise of artificial intelligence (AI) is causing anxiety among higher-income workers, leading to longer job tenures and lower turnover rates in white-collar occupations [1][2][8] - Surveys indicate that confidence in the labor market among high earners is at historic lows, with the University of Michigan Survey showing sentiment scores at their lowest since the financial crisis of 2009 [2][7] - The New York Federal Reserve's consumer survey reveals that expectations of finding a job within three months after losing one are at their lowest since mid-2013, indicating increased job market caution [8] Group 2 - The sentiment decline is most pronounced among the top one-third of earners, while lower-income workers have also seen a decline but maintain higher sentiment levels compared to high earners [7] - ADP reports that turnover rates in professional and business services are at record lows, with January turnover being the lowest ever recorded for this sector [8][9] - Despite the caution in the labor market, job conditions remain strong for higher-income groups, with finance jobs showing a low unemployment rate of 2.1% in January [10] Group 3 - Federal Reserve officials acknowledge the dual nature of AI, recognizing both the potential for job displacement and the opportunity for job enhancement and market benefits in the long run [11][12] - The current labor market dynamics are characterized by reduced activity rather than vigor, indicating a shift in traditional job gain and pay growth patterns [9]