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Growing advances in artificial intelligence are reshaping how workers think about career stability, and the unease is most pronounced among higher-income professionals. A range of recent surveys and labor-market datasets suggest that well-paid, white-collar employees are becoming increasingly cautious about changing jobs, driven partly by concerns that automation could reshape or replace parts of their roles.

While the broader labor market remains resilient, this shift in sentiment is influencing behavior, reducing turnover and increasing job “stickiness” among top earners.

What the Data Shows

Research from multiple institutions points to a clear trend: confidence in job prospects is weakening most among higher-income households.

The University of Michigan Survey of Consumers indicates that labor-market confidence among top earners has fallen to levels not seen since the aftermath of the 2008–2009 financial crisis. Over the past year, expectations that unemployment could rise have climbed sharply within the highest income bracket, even as lower-income groups report comparatively steadier sentiment.

Similarly, the Federal Reserve Bank of New York Survey of Consumer Expectations shows that the perceived probability of finding a new job within three months — if one were to lose employment — is hovering near the lowest levels recorded since the dataset began in 2013.

Payroll processor ADP reports that turnover rates in white-collar industries such as finance, information, and professional services are at or near historic lows, signaling that workers are opting to remain in current roles rather than risk transitions.

Why High Earners Feel More Exposed

Economists say the concern is rooted in the nature of AI adoption. Many of the tasks most susceptible to automation — data analysis, administrative workflows, coding assistance, and content generation — are concentrated in knowledge-based occupations that typically command higher salaries.

UBS chief economist Arend Kapteyn noted that fear of displacement is likely one factor behind the trend, though other explanations such as slower wage growth and reduced hiring intensity may also play a role.

In practical terms, this anxiety is reshaping workplace dynamics. Instead of pursuing new opportunities for higher pay, many professionals are prioritizing stability, benefits, and internal mobility, which collectively dampens labor-market churn.

A Labor Market Defined by Caution

ADP economists describe the current environment as one where the traditional cycle of job switching for higher wages has weakened.

Turnover in professional and business services — sectors that collectively employ tens of millions of workers — recently fell to the lowest level ever recorded in ADP’s dataset. This decline suggests that the labor market is not contracting but rather becoming less fluid, with fewer voluntary departures and slower hiring velocity.

At the same time, wage growth in these sectors has moderated from the rapid pace seen during the post-pandemic recovery, reinforcing a more cautious mindset among employees.

Strong Fundamentals Despite the Anxiety

Despite rising concern, objective labor-market indicators remain solid for higher-income occupations.

According to the Bureau of Labor Statistics, unemployment rates in many white-collar industries remain low by historical standards. Finance occupations, for example, recently posted unemployment near 2%, while professional and business services hovered around the mid-4% range, both broadly consistent with a healthy labor market.

This divergence — strong employment conditions paired with declining confidence — highlights how expectations about technological change can influence behavior even when current job prospects remain favorable.

Policymakers Weigh AI’s Long-Term Impact

Central bank officials and policymakers broadly agree that artificial intelligence will reshape the economy, though they emphasize both risks and opportunities.

Federal Reserve Governor Christopher Waller described the current period as one of the most significant technological transformations in decades, with businesses and governments racing to integrate AI into operations.

Meanwhile, regional Fed leaders including Thomas Barkin and Jeffrey Schmid have stressed that AI is likely to augment workers as much as it displaces them, particularly as aging populations slow labor-force growth.

Many economists expect productivity gains from AI to eventually support higher output, new job categories, and wage growth, though the transition period may involve uneven impacts across industries.

The Bigger Picture

The emerging pattern suggests that AI’s influence is already visible not just in hiring plans or corporate investment, but in worker psychology. Higher-income professionals — traditionally the most mobile segment of the workforce — are signaling caution, prioritizing job security over risk-taking.

If this behavior persists, it could reshape labor-market dynamics by reducing voluntary quits, slowing wage acceleration, and making hiring cycles more gradual. At the same time, continued economic expansion and technological innovation may ultimately offset these fears as new roles and skills emerge.

For now, the data paints a picture of a workforce that remains employed and productive, yet increasingly mindful of how rapidly the nature of work is evolving in the age of artificial intelligence.