The Bureau of Labor Statistics is predicting that more than two million Americans will lose their jobs in the next few years as companies and workers shift to artificial intelligence.
The agency’s latest employment projections are for 2020, with a job loss rate of 5.1 percent.
That’s lower than the 5.5 percent job loss expected in 2020, but still significantly higher than the 3.9 percent rate projected in 2015.
The projected job losses are likely to be much higher than last year, when the bureau revised its 2020 estimates down from 6.1 million jobs to 5.2 million.
The Bureau of Economic Analysis said that its projections for 2020 show that jobs will be lost in the services, food services, leisure and hospitality, retail trade, and manufacturing industries.
The bureau’s report comes as the presidential election season heats up and the economy has begun to pick up.
The U.S. is in the midst of a hiring season, with the Bureau of Labour Statistics projecting that job growth for January will be 3.6 percent.
The Bureau also said in January that hiring would be at a 6-year high.
The labor force participation rate is the share of the civilian population 18 and older who are employed or actively looking for work.
It’s an indicator of the percentage of the population that is either employed or looking for a job.
The unemployment rate is currently 5.6 percentage points higher than it was in March.