Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

KGEN Burns 22 Million Tokens, Plans Deflationary Buyback Model

30/07/2026

Base Launches On-Chain Identity Feature to Combat Sybil Attacks on Testnet

30/07/2026

Billionaire Anthony Scaramucci Shares 5 Reasons Why He’s Still Bullish on Bitcoin

30/07/2026
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Billionaire Anthony Scaramucci Shares 5 Reasons Why He’s Still Bullish on Bitcoin

    30/07/2026

    What Happens to Bitcoin’s Price if the Biggest Corporate Buyer Becomes a Seller?

    30/07/2026

    Michael Saylor Shares Strategy’s Resilience and Growth Since 2022

    30/07/2026

    Bitcoin Options Traders Load up on $120K Strike Through December 2026

    30/07/2026

    Institutions Rotate, Whales Accumulate—What’s Next for ETH?

    30/07/2026

    Ethereum enters its second decade after a year of upheaval at the foundation

    30/07/2026

    Ethereum Price Faces Bearish Sentiment as History Points to Rebounds

    29/07/2026

    Ethereum Price Is Cooling, but Its Network Is Waking Up: 5 Key Metrics

    29/07/2026

    KGEN Burns 22 Million Tokens, Plans Deflationary Buyback Model

    30/07/2026

    Shielded Labs Proposes New Zcash Upgrade to Prove ZEC Supply After Orchard Bug

    30/07/2026

    Whales Rush to Accumulate HYPE During Market Pullback

    30/07/2026

    BitMEX Founder Arthur Hayes Made Large Sales of This Altcoin Due to the Orchard Pool Bug!

    30/07/2026

    Are NFTs Dead in 2026? What Happened to the Market

    29/07/2026

    NFT Gacha Protocol Fake World Assets Trails Only Sky in Ethereum Daily Revenue

    28/07/2026

    Tensor HQ Declares NFTs Are Forever as Community Engagement Grows

    26/07/2026

    Jupiter Gacha Hits $20M in Volume, Signaling Strong Collector Interest

    26/07/2026

    KGEN Burns 22 Million Tokens, Plans Deflationary Buyback Model

    30/07/2026

    Base Launches On-Chain Identity Feature to Combat Sybil Attacks on Testnet

    30/07/2026

    Billionaire Anthony Scaramucci Shares 5 Reasons Why He’s Still Bullish on Bitcoin

    30/07/2026

    Institutions Rotate, Whales Accumulate—What’s Next for ETH?

    30/07/2026
  • Blockchain

    Base Launches On-Chain Identity Feature to Combat Sybil Attacks on Testnet

    30/07/2026

    Lotus Tech Drives Into RWA Tokenization With Finloop and FOMO Pay Partnership

    30/07/2026

    Ondo drops tokenized asset blockchain plans for private, high-speed trading network

    30/07/2026

    JPMorgan, three US banks challenge stablecoins with shared deposit tokens

    30/07/2026

    European financial institutions launch RL1 cooperative blockchain network

    30/07/2026
  • DeFi

    Altura blames bank account freeze for delay in vault shutdown process

    30/07/2026

    Why Uniswap liquidity providers say the protocol fee switch ‘can’t work’

    29/07/2026

    HTX Research Maps the RWA-DeFi Convergence as Tokenized Assets Surge Past $20 Billion

    28/07/2026

    Aave Accounts for 47.8% of Onchain Active Loans, Says Token Terminal

    28/07/2026

    AI may pose bigger threat to DeFi than Bitcoin, Capriole’s Charles Edwards warns

    28/07/2026
  • Metaverse

    Is Solana Gaming Back? Kintara Activity Fuels Renewed Optimism in Onchain MMOs

    24/06/2026

    The Sandbox launches AI game engine ‘The Sandbox Studio’ for next-generation creators

    10/06/2026

    Meta commits $13M in funding for Oversight Board through 2028

    29/05/2026

    Why Animoca’s Yat Siu says the future is 100 billion AI agents

    07/05/2026

    ‘8,000 Jobs’—Polymarket Sees Tech Layoff Surge As Meta AI Push Bites

    18/04/2026
  • Regulation

    Revolut hits $115 billion valuation in employee share sale: WSJ

    30/07/2026

    Matt Damon’s Crypto Links Stay Charitable as $33.8M Real Estate Portfolio Takes Center Stage

    30/07/2026

    Tokenized Stocks Hit Records Across Every Major Venue as Sector Reaches $2.3B

    30/07/2026

    Coinbase stock sinks 4% as CLARITY Act odds collapse to 37%

    30/07/2026

    Benchmark Raises Hut 8 Price Target After Bitcoin Miner Signs $9.8 Billion AI Data Center Deal

    30/07/2026
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Binance’s USDC reserves fall 40% while USDT holds firm – Here’s why

    29/07/2026

    Crypto Exchange Knaken Declared Bankrupt

    29/07/2026

    Kalshi’s Daily Crypto Contract Volume Hits Record $217.98 Million

    29/07/2026

    Tether adds 30M USDT wallets every quarter as user base hits 500M

    29/07/2026

    ICO market slows sharply with only six completions in 2026

    30/04/2026

    South Korea Poised to Lift Ban on Domestic ICOs After 7 Years

    19/12/2025

    Why 2025’s Token Boom Looks Both Familiar and Dangerous

    31/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    why gameplay now beats crypto rewards

    29/07/2026

    From NFT gaming to mining simulators

    29/07/2026

    Top 11 NFT games to play in July 2026

    16/07/2026

    Yield Guild Games Sunsets YGG Play Publishing Unit, Cuts 35 Jobs

    06/07/2026

    Malaysian Police Raid Illegal Bitcoin Mining Sites, Arrest Two Men in Tronoh

    30/07/2026

    What Happens When Two Miners Find a Block at the Same Second? Inside an Orphan Race

    30/07/2026

    Governments Race to Offer Crypto Mining Tax Exemptions

    30/07/2026

    Bitcoin miners pour billions into AI – but the pivot could leave them regretting it within a year

    29/07/2026

    ESMA Adds 14 New CASPs to MiCA Register as Licensing Slows

    30/07/2026

    Taiwan court sentences BitShine founder to 22 years in $39M crypto fraud

    30/07/2026

    One year ago today, the House passed CLARITY

    29/07/2026

    Polymarket traders cut Clarity Act passage odds to record low as Senate delay drags on

    29/07/2026

    KGEN Burns 22 Million Tokens, Plans Deflationary Buyback Model

    30/07/2026

    Base Launches On-Chain Identity Feature to Combat Sybil Attacks on Testnet

    30/07/2026

    Billionaire Anthony Scaramucci Shares 5 Reasons Why He’s Still Bullish on Bitcoin

    30/07/2026

    Institutions Rotate, Whales Accumulate—What’s Next for ETH?

    30/07/2026
  • MarketCap
NBTC News
Home»Regulation»Fed Confirms What Tech Developers Have Feared for Two Years
Regulation

Fed Confirms What Tech Developers Have Feared for Two Years

NBTCBy NBTC18/05/2026No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


In brief

  • A Federal Reserve study found US programming job growth dropped roughly 50% after ChatGPT launched in November 2022.
  • Researchers estimate roughly 500,000 developer jobs that would have otherwise existed were never filled.
  • The employment gap didn’t appear until mid-2024—about 18 months after ChatGPT’s launch.

The Federal Reserve just put a number on something developers have been experiencing for two years.

A new study by Fed economists Leland D. Crane and Paul E. Soto found that employment growth among U.S. programmers dropped roughly 50% after ChatGPT launched in November 2022. Before that, programming-intensive jobs were growing at around 5% annually—well above the overall labor market.

Since then, growth has fallen sharply. In the sectors most concentrated with programmers, like IT services and software development, it has essentially flatlined.

This is the first Federal Reserve-level study to directly link AI adoption to a measurable, occupation-specific decline in developer hiring, pointing to AI as the cause of an occupation-specific shock.

The tech sector took a beating in 2022 from interest rate hikes, the end of the pandemic digital boom, and the crypto crash. Skeptics have always argued that those factors alone explain the developer slowdown.

Crane and Soto addressed that directly. They built a counterfactual—how many programmers would exist if their share within each industry had stayed constant—and found programmer employment still falling by about 3% per year even after stripping out those effects. Non-AI-exposed occupations showed no comparable dip.

Stretched over three years, the gap amounts to roughly 500,000 jobs that would likely have existed without the rise of large language models. The authors strongly caution against reading this as a direct count of lost jobs. Many affected workers probably found work in adjacent fields, and the study doesn’t capture broader macroeconomic feedback. But the signal is there.

The employment gap didn’t open until mid-2024, roughly 18 months after ChatGPT launched. The researchers suggest companies needed time to see LLM capabilities improve enough to trust them before pulling back on headcount. Whether that reflects actual productivity gains or just the expectation of them, the data doesn’t resolve.

The study shows that programmers are the most AI-exposed occupational group in the country, which tracks with actual usage data. Anthropic’s Economic Index shows that computer and mathematical tasks—coding, debugging, software architecture—account for roughly a third of all Claude.ai conversations and nearly half of enterprise API traffic.

The longer-term concern is the pipeline. A Decrypt report last year documented accelerating AI-driven layoffs across white-collar sectors, with Anthropic CEO Dario Amodei warning that up to 50% of entry-level roles could disappear within five years.

The Fed study adds institutional weight to what was previously anecdotal: a Harvard study of 62 million automatic data processing payroll workers found that junior developer employment drops roughly 9-10% within six quarters when companies adopt generative AI, while senior employment barely moves.

“If A.I. disproportionately affects junior positions, it could have lasting consequences for the college wage premium, upward mobility and income disparities,” Harvard researchers wrote.

Beyond the Fed, other analysts are raising concerns over tech jobs slowing due to AI automation and replacement. A recent multi-university survey of 69 economists, 52 AI experts, and 38 superforecasters found broad agreement that faster AI progress means lower labor force participation, including among researchers who previously held the “augment, not replace” consensus.

The Fed researchers don’t frame the findings as catastrophic. Wages for programmers haven’t declined—the effect has shown up in headcount, not pay. Job postings stabilized in 2024 and have ticked slightly upward since. The authors note that cheaper AI-assisted programming could open new markets and grow total demand for developer labor over the long run.

Crane and Soto describe their work as “only a first step.” The study was published as a preliminary designation, meaning it hasn’t completed the full Fed review process. But it’s the first step produced inside the Federal Reserve, with the methodology and institutional weight that carries.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Related Posts

Revolut hits $115 billion valuation in employee share sale: WSJ

30/07/2026

Matt Damon’s Crypto Links Stay Charitable as $33.8M Real Estate Portfolio Takes Center Stage

30/07/2026

Tokenized Stocks Hit Records Across Every Major Venue as Sector Reaches $2.3B

30/07/2026

Coinbase stock sinks 4% as CLARITY Act odds collapse to 37%

30/07/2026
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

KGEN Burns 22 Million Tokens, Plans Deflationary Buyback Model

30/07/2026

Base Launches On-Chain Identity Feature to Combat Sybil Attacks on Testnet

30/07/2026

Billionaire Anthony Scaramucci Shares 5 Reasons Why He’s Still Bullish on Bitcoin

30/07/2026
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.