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Axios
4 minutes ago
- Axios
Blue-collar revenge: The things AI can't do are making a comeback
AI is supposed to displace millions of workers in the coming years — but when your toilet won't flush at 2 am, you're not going to call ChatGPT. Why it matters: The reshaping of the American economy promises to offer a kind of revenge for the blue-collar laborer, as white-collar workers become largely dispensable, but the need for skilled trades only grows. The big picture: Companies are already boasting of saving hundreds of millions of dollars a year by using AI instead of humans. The stock market rewards are too enticing for the C-suite to ignore. But ask those same executives who's going to run the wiring for their data centers, or who's putting the roof on the building, and just how well those skilled technicians are getting paid. It's become a key Trump administration economic talking point: Blue-collar wages are rising faster now than at the start of any other administration going back to Nixon. Driving the news: A recent Microsoft paper analyzing the most "AI-proof" jobs generated a list of the work most and least vulnerable to the rise of the LLM. The 40 most-vulnerable jobs (translators, historians, sales reps, etc), basically all office work, employ about 11 million people. The 40 least-vulnerable jobs (dredge operators, roofers, etc.), just about all manual labor, employ around 5.5 million. All those extra folks have to go somewhere. What they're saying: "We've been telling kids for 15 years to code. 'Learn to code!' we said. Yeah, well, AI's coming for the coders. They're not coming for the welders. They're not coming for the plumbers. They're not coming for the steamfitters or the pipe fitters or the HVACs. They're not coming for the electricians," Mike Rowe, the TV host and skilled-trades philanthropist, said at Sen. Dave McCormick's (R-Pa.) AI summit last month. "There is a clear and present freak-out going on right now," Rowe said, as everyone from politicians to CEOs recognizes just how bad they need tradespeople to keep the economy running. Yes, but: While the AI boom will create lots of jobs for skilled trades, eventually there'll be less demand to build more data centers, which may in turns sap demand for those tradespeople too. The intrigue: There's already a labor shortage in many of these blue-collar professions, one that AI will, ironically, only make worse (think the electricians for the data centers, for example). Factories alone are short about 450,000 people a month, per the National Association of Manufacturers (NAM). "We're really talking about high-tech, 21st Century, rewarding, well-paying jobs," Jay Timmons, the CEO of the NAM, tells Axios. "Manufacturers are really embracing what's coming, and they accept the responsibility." Training is the answer, but that will require a large-scale, national effort —not just for up-and-coming students, but for mid-career folks forced into a pivot. "Everybody needs these roles, they're high-security roles," says Carolyn Lee, president of the NAM-affiliated Manufacturing Institute. She points, for example, to a program already in 16 states to train maintenance technicians to keep factories running — precisely the kind of job people like Commerce Secretary Howard Lutnick have said are the future of the workforce. Students in an early cohort of that program, on average, were earning $95,000 a year within five years of graduating. One of the challenges, Timmons notes, is selling that to people who may not understand how lucrative these careers can be: "You have an economy-wide perception problem."
Yahoo
16 minutes ago
- Yahoo
Boris Johnson blasts PM Keir Starmer for ‘absurd' stance on Gaza
(NewsNation) — Boris Johnson is blasting his successor, British Prime Minister Keir Starmer, for saying the U.K. will recognize Palestinian statehood if Israel does not agree to a ceasefire in Gaza and take steps to end suffering there. Johnson, a former Conservative Party leader, says Starmer is bowing to pressure within his Labour Party in an effort to retain support of Muslim voters, and the result is a boon to Hamas. 'We seem to be giving a big path, a big reward to Hamas, and it's absurd,' Johnson told 'On Balance' on Friday. Journalist tries to set record straight on Gaza food distribution Starmer has said the U.K. would recognize a Palestinian state in September if Israel does not back a ceasefire but repeated demands that Hamas return all remaining hostages that were taken during the deadly incursion into southern Israel on Oct. 7, 2023. Starmer also said Hamas must disarm and 'accept that they will play no part in the government of Gaza.' Johnson has supported a so-called two-state solution giving Palestinians limited governing power but not control of an army. He said Gaza could thrive in the future but not with Hamas at the helm. The erosion of support for Israel in the U.K.'s government seems to be materializing in the United States, as well, Johnson said. 'I just notice that things are changing a bit, particularly in the Democratic Party,' he said. 'I notice a change in the conversation about this issue. There's now a constituency that has a particular view, and I think it's very, very regrettable.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Yahoo
26 minutes ago
- Yahoo
Bill Maher says he was wrong about Trump's tariffs — why the comedian is suddenly walking back his calls for catastrophe
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Love him or hate him, Bill Maher isn't shy about eating his own words. On an episode of his Club Random podcast, the comedian says he was wrong about President Donald Trump's sweeping tariffs. 'Tariffs. Now, I remember, I, along with probably most people, were saying at the beginning, 'Oh, you know, by the 4th of July the economy was going to be tanked by then.' And I was kind of, like, 'Well, that seems right to me.' But that didn't happen,' Maher said in a clip posted July 28. 'The truth is, I don't know what [Trump's] strategy is. But look, the stock market is at record highs. I know not everybody lives by the stock market, but I also drive around, I don't see a country in a depression at all — I see people out there just living their lives. And I would have thought — and I've got to own it — that these tariffs were going to sink this economy by this time. And they didn't.' Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Many experts were — and several remain — critical of Trump's trade policies. Former Treasury Secretary Larry Summers called Trump's tariffs 'a self-inflicted wound on the American economy,' while Nobel Prize-winning economist Paul Krugman said they 'create an impossible environment for business.' To be sure, the uncertainty surrounding tariffs did rattle Wall Street. Trump's first 100 days were the worst start for stocks under a president since the Nixon era. But they've since bounced back, and as Maher alluded to, major indices like the S&P 500 and Nasdaq have hit new all-time highs. The blunt reality? While Trump's tariffs may have consequences — particularly on consumer prices — the U.S. economy remains a global powerhouse. That enduring strength is why investing legend Warren Buffett has long urged investors to stay optimistic about America's future. As Buffett wrote in his 2022 letter to Berkshire Hathaway shareholders: 'I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.' Here's a look at two simple ways to bet on America. Own a slice of America — the Buffett way For Buffett, betting on the U.S. is a no-brainer — thanks to his unwavering faith in the resilience and growth of American businesses. 'American business — and consequently a basket of stocks — is virtually certain to be worth far more in the years ahead,' Buffett wrote in his 2016 letter to shareholders. You don't need to be a stock-picking expert to follow Buffett's playbook. His advice to individual investors is as simple as it is enduring: 'In my view, for most people, the best thing to do is own the S&P 500 index fund,' he famously stated. This straightforward approach gives investors exposure to 500 of America's largest companies across various industries, providing diversified exposure without the need for constant monitoring or active trading. The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time with tools like Acorns, a popular app that automatically invests your spare change. Signing up for Acorns takes just minutes: link your cards, and Acorns will round up each purchase to the nearest dollar, investing the difference — your spare change — into a diversified portfolio. With Acorns, you can invest in an S&P 500 ETF with as little as $5 — and, if you sign up today, Acorns will add a $20 bonus to help you begin your investment journey. Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — Invest in US real estate The U.S. is currently facing a significant housing shortage. A recent Zillow analysis estimated the housing shortage to be 4.7 million homes. Even Federal Reserve Chairman Jerome Powell has acknowledged the severity of the issue. 'The real issue with housing is that we have had, and are on track to continue to have, not enough housing,' he stated in September 2024. For investors, the housing supply gap presents a unique opportunity to invest in America. Housing demand isn't going away — regardless of who's in the White House, people will always need a place to live. In fact, Buffett has often pointed to U.S. real estate as a prime example of a productive, income-generating asset. In 2022, Buffett stated that if you offered him '1% of all the apartment houses in the country' for $25 billion, he would 'write you a check.' Of course, you don't need billions to benefit from real estate investing. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment. Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
