Large Language Models, Small Labor Market Effects | NBER Modest productivity gains (average time savings of 3%), combined with weak wage pass-through, help explain these limited labor market effects Our findings challenge narratives of imminent labor market transformation due to Generative AI
Labor Market Signals: The Role of Large Language Models Large Language Models (LLMs) have the potential to transform the labor market, including hiring This paper assesses their impact on signals that job-seekers send to potential employers and how this affects labor market matching
Measuring Labor Market Match Quality with Large Language Models We propose a novel method to assess labor market match quality using large language models (LLMs) Our approach tasks LLMs with the role of a human resources specialist to evaluate the fit between an applicant and a job Our study consists of two parts
The Impact of Large Language Models on the Labor Market . . . Models from OpenAI, Google, and Meta have begun to scale across multiple domains, and have sparked widespread interest and speculation about the potential impact of LLMs on the labor market
Large Language Models, Small Labor Market Effects Large Language Models, Small Labor Market Effects We examine the labor market effects of AI chatbots using two large-scale adoption surveys (late 2023 and 2024) covering 11 exposed occupations (25,000 workers, 7,000 workplaces), linked to matched employer-employee data in Denmark