US to Discuss Any Troop Withdrawal With NATO, Estonia Chief Says
Defense Minister Hanno Pevkur, who joined his Baltic counterparts on a visit to Washington last week, said he received no guarantees from Defense Secretary Pete Hegseth on maintaining troop levels on NATO's eastern flank.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
AI is already replacing thousands of jobs per month, report finds
Artificial intelligence is already replacing thousands of jobs each month as the U.S. job market struggles amid global trade uncertainty, a report has found. The outplacement firm Challenger, Gray, and Christmas said in a report filed this week that in July alone the increased adoption of generative AI technologies by private employers led to more than 10,000 lost jobs. The firm stated that AI is one of the top five reasons behind job losses this year, CBS News noted. On Friday, new labor figures revealed that employers only added 73,000 jobs in July, a much worse result than forecasters expected. Companies announced more than 806,000 job cuts in the private sector through July, the highest number for that period since 2020. The technology industry is seeing the fiercest cuts, with private companies announcing more than 89,000 job cuts, an increase of 36 percent compared to a year ago. Challenger, Gray, and Christmas found that more than 27,000 job cuts have been directly linked to artificial intelligence since 2023. "The industry is being reshaped by the advancement of artificial intelligence and ongoing uncertainty surrounding work visas, which have contributed to workforce reductions," the firm said. The impact of artificial intelligence is most severe among younger job seekers, with entry-level corporate roles usually available to recent college graduates declining by 15 percent over the past year, according to the career platform Handshake. The use of 'AI' in job descriptions has also increased by 400 percent during the last two years. There are other reasons for recent job losses, with more than 292,000 roles having been terminated following cuts connected to the Department of Government Efficiency, previously led by Elon Musk, a former close ally of President Donald Trump, Challenger, Gray, and Christmas found. Senior vice president Andrew Challenger said in a statement, 'We are seeing the federal budget cuts implemented by DOGE impact non-profits and health care in addition to the government.' Amid the rising costs associated with tariffs, layoffs are also increasing in the retail sector, according to the firm. Through July, retailers announced more than 80,000 cuts, an increase of close to 250 percent compared to the same period last year. "Retailers are being impacted by tariffs, inflation, and ongoing economic uncertainty, causing layoffs and store closures. Further declines in consumer spending could trigger additional losses," said the firm. White collar workers are among those at highest risk of having their jobs wiped out by AI, executives have warned. But Challenger said early last month, 'There are roles that can be significantly changed by AI right now, but I'm not talking to too many HR leaders who say AI is replacing jobs,' he added, according to NBC News. In June, Amazon CEO Andy Jassy said AI would 'reduce our total corporate workforce as we get efficiency gains.' But he didn't specify a timeframe. Last month, The Wall Street Journal reported that Ford CEO Jim Farley would replace 'literally half of all white-collar workers in the U.S.' But experts argue that AI is currently affecting the job market in roundabout ways, such as many companies coming under intense pressure to cut costs because of the uncertain economic climate pushed by Trump's tariff policy and concerns about increasing inflation. As such, some companies are spending money on AI software instead of hiring new staff. The CEO of The Josh Bersin Company workforce consultancy, Josh Bershin, told NBC News,'There's basically a blank check to go out and buy these AI tools.' 'Then they go out and say, as far as head count: No more hiring. Just, 'stop.' So that immediately freezes the job market,' he added.
Yahoo
an hour ago
- Yahoo
Trump defends firing labor statistics chief, confirms movement of two nuclear subs
President Trump defended firing the head of the Bureau of Labor Statistics, claiming job numbers were 'phony' before the election and later revised. He also confirmed moving U.S. nuclear submarines closer to Russia after threats from a former Russian president, saying the move was necessary to protect Americans. Solve the daily Crossword
Yahoo
2 hours ago
- Yahoo
German Economy Minister Reiche says social systems under pressure
German Economy Minister Katherina Reiche believes that social security systems in Germany are under pressure. The Christian Democrat (CDU) politician said after a company visit in the western city of Essen on Thursday that a comprehensive - and critical - review of Germany's social systems is due in the autumn. "They must deliver what the citizens expect from them: security and reliability. But we also know that reforms are needed," Reiche said. German Chancellor Friedrich Merz has spoken of a "reform autumn." "There is really nothing to add to that," she said. "Tipping point" The coalition has agreed to set up various commissions after the lower house of parliament, the Bundestag, returns from its July-August break, not only to examine the social security systems but also to develop reform proposals, said Reiche. She added that the reform of the social systems and the demographic imbalance is not solely an issue for the current government. "The challenge we are facing is that the so-called tipping point is getting closer, and we must therefore actively address the question of how we can combine different employment histories, labour demand, and immigration into such a good concept that we can maintain labour productivity at a high level in the future," she said. When asked whether the planned expansion of the mother's pension is still timely, Reiche said, "Measures that further burden the social security systems are indeed a challenge for our system." However, she noted that it is also primarily about individual workers. Criticism of pension proposal Reiche had sparked a broad debate with statements about increasing Germans' working life. German Finance Minister Lars Klingbeil said on Wednesday that it was very clearly set out in the coalition negotiations that there would be no increase in the retirement age. He stated that calls "from the sidelines" do not help. Reiche on tour The minister visited the medium-sized family business Agathon in Essen, a world-leading manufacturer of chocolate moulds for large-scale industrial production. The company relocated its headquarters from Bottrop to Essen at the beginning of the year and invested €15 million ($17.2 million) in the construction of a new production hall. Prior to this, Reiche visited German polyurethane and polycarbonate producer Covestro in Leverkusen. Solve the daily Crossword
