What the September Jobs Miss Says About AI and Entry-Level Work

In this appearance on the Flyover Conservatives podcast, Dr. Kirk Elliott breaks down a September jobs report that showed roughly 29,000 new jobs against economists' expectations of about 80,000, a miss he calls one of the widest he has seen. He questions how the figures are being presented, noting that slower immigration has removed a source of job growth that previously flattered the numbers and leaves the underlying trend close to stagnant. He then looks ahead to artificial intelligence, explaining that it is still creating some jobs today but that employers are already pulling back on entry-level hiring, which he describes as a catch-22, since entry-level roles are the path to more senior positions. He discusses how the upcoming midterm elections could affect federal spending and the national debt, the tension between the Treasury's efforts to support the bond market and the Federal Reserve's focus on inflation under Kevin Warsh, and foreign holders reducing their US Treasuries. He explains why he views gold and silver as assets with little counterparty risk, and none when held at home, notes that central banks and large institutions increased their buying as prices dipped, and expects supply to tighten as retail buyers return, much as it did last December and January. He frames physical metals as assets investors may want to consider and invites viewers to schedule a consultation with the KEPM team.