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John Burn-Murdoch

@jburnmurdoch.ft.com
119K followers 1.1K following 1.3K posts

Columnist and chief data reporter the Financial Times | Stories, stats & scatterplots | john.burn-murdoch@ft.com 📝 ft.com/jbm

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John Burn-Murdoch @jburnmurdoch.ft.com · 11/09/2026
Almost verbatim in fact
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/09/2026
I did ask...
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/09/2026
Also asked the meta-question of whether they appreciate that headlines of astronomical growth alongside soaring unemployment might be fuelling anti-AI sentiment
John Burn-Murdoch: The top line of the press release mentions the 44tn
[GDP figure by 2030] and the possibility of 15 per cent annual GDP growth by 2030. Given the whole mood at the moment - there are a lot of strong feelings around Al, and it feels like the most likely explanation for why everyone hates data centres is because they don't love what's going on inside the data centres and the implications of that. So when a report comes out that says we might have 15 per cent annual growth in 2030, that's going to wind up some people. When it's also saying we might have double-digit knowledge-worker unemployment, that's going to scare some other people. I'm curious, when you put together a piece of work like this, are you thinking about how that might come across? What's your intended impact?

Jack Clark: We build this stuff driven by a pure research goal of figuring out what's actually the truth. I lead the Anthropic Institute, which is a series of research teams here, and our mandate is to take information, or in this case, assumptions, that only the Al labs have, and get that information and that set of assumptions out to the public, so people can better understand the different views that Al companies have about the future. Some scenarios look like Al as a normal technology, other scenarios look like the singularity is nigh and very, very significant things are going to happen to the economy. So we built a tool that captures all of these different views. We don't build this stuff with a particular narrative in mind at the start. We're sharing this because if these scenarios end up being right, you probably want to make a bunch of different choices about the world. Part of why you share this is I think it's going to help focus the minds of economists, policymakers [and] others who study Al on how we may need to make very different policy decisions about this technology.
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/09/2026
Here’s a snippet on why we may not yet be seeing the full extent of how AI is already changing employment. Just one small part of a much broader chat where he explains Anthropic’s thinking and the purpose of publishing scenarios like these. Full transcript is here: www.ft.com/content/432f...
John Burn-Murdoch: Just picking up directly on that. Brynjolfsson has those findings, which are really important, but those are very concentrated among new entrants to the labour market in specific occupations. You probably saw the analysis from Ramp a couple months back, which showed that according to that universe of data, Al-adopting firms are actually hiring more than others, including among juniors. So I guess it's at least fair to say the evidence is fuzzy there. More broadly, on net over the last couple of years — one year if we're just talking about the agentic period - the aggregate impact on employment has arguably been positive, or it's certainly not decisively negative, even for the most junior roles. You're nonetheless saying unemployment among knowledge workers could get to double digits by 2030. What is the other shoe that drops between now and then?

Jack Clark: So, under scenarios where really significant things happened, I think you can assume the AI systems have got better at not just individual tasks that comprise a job, but a large bundle that maybe comprise the majority of a job. And we know that it seems to be driving a rise in what you think of as very competitive, small headcount, opex-heavy firms. Small numbers of people, large numbers of tokens, seemingly very competitive. Stripe sees this; other people see this.
Employment takes a lot longer to show up, and employment changes are typically also accompanied by larger, unpredictable changes in the macroeconomy, like a recession. So right now, we don't really know the shape of how employment is being impacted by Al because we haven't had these larger macroeconomic events, which typically is when businesses move to some new norm of employment, which usually reveals a load of changes in how they've been using technology in their business in prior years.
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/09/2026
New from us: Anthropic just published scenarios for AI’s possible economic impacts, which range from minimal, to explosive GDP growth of 15% by 2030 as knowledge-worker unemployment hits 18%. I sat down with their co-founder Jack Clark to pick his brains on how they’re thinking about all of this.
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John Burn-Murdoch @jburnmurdoch.ft.com · 08/09/2026
2) England is a rare exception. During the 2010s many other countries (including the other 3 UK nations) changed tack, experimenting with ideas like transferrable skills instead of focusing on tried-and-tested disciplines and methods. It looks like those experiments have failed.
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John Burn-Murdoch @jburnmurdoch.ft.com · 08/09/2026
Two extraordinary charts from today’s PISA test results: 1) School test scores continue to collapse internationally, underscoring how this is no longer a Covid effect but sustained decline. Those falls in reading and maths are equivalent to about two years of lost schooling.
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John Burn-Murdoch @jburnmurdoch.ft.com · 04/09/2026
It’s an obvious theory for sure (in a recent piece on the same topic I assumed it was a big factor www.ft.com/content/649d...), but I did a robustness check for this one where I measured the premium as median grad vs median non-grad (who is well above min wage) and the result is ~exactly the same
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John Burn-Murdoch @jburnmurdoch.ft.com · 04/09/2026
NB we’re interested specifically in *entry-level* roles. The picture you show for Denmark is actually not dissimilar to the US: software hiring has rebounded pretty well, but *exclusively for senior roles*. For juniors the picture is still bleak. We did a deep dive here: www.ft.com/content/7325...
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John Burn-Murdoch @jburnmurdoch.ft.com · 03/09/2026
I hereby declare the "learn to code" era officially dead: Big declines in the number of people studying computer science in the last year or two 📉 Chart from this week’s edition of our newsletter on AI and the labour market www.ft.com/content/9183...
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John Burn-Murdoch @jburnmurdoch.ft.com · 21/08/2026
As you can see, the boom is basically invisible, because these occupations are simply far smaller than what they need to replace. 10% growth here means about 120k jobs added. That’s good! But manufacturing job losses are running at 7 million and counting.
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John Burn-Murdoch @jburnmurdoch.ft.com · 21/08/2026
What about the skilled-trades boom from the energy transition and data centres? Relatively speaking this will be tiny. Here’s my employment-change-by-sector chart with skilled trades in pink. Dashed line is BLS forecast for the boom in these jobs (10% growth in next decade vs 3% for all jobs).
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John Burn-Murdoch @jburnmurdoch.ft.com · 09/08/2026
For sure, though the most important change driving the gap is UK productivity stagnating and wages actively falling. Britain is more exceptional than the US here
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John Burn-Murdoch @jburnmurdoch.ft.com · 07/08/2026
New from me: Britain’s graduate earnings premium is falling, cue “too many go to university!” But non-university outcomes are also bad, cue “we must reform vocational routes!” Both miss the point: people used to think education drove economic outcomes, but the economy drives educational outcomes.
Chart showing that US workers who are functionally illiterate earn roughly the same per hour as the average British worker
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John Burn-Murdoch @jburnmurdoch.ft.com · 31/07/2026
Spot on. I wrote about that "hand on a second, I thought we were on the same path" phenomenon a few years back: www.ft.com/content/985a...
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John Burn-Murdoch @jburnmurdoch.ft.com · 31/07/2026
New from me: Until recently, the gap between comfortably-off and just-getting-started could plausibly be crossed in a decade or two of hard work. Growth in asset prices means that’s no longer true: even a lifetime of striving doesn’t offer a realistic prospect of feeling you’ve “made it”.
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/07/2026
Sorry have fixed!
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John Burn-Murdoch @jburnmurdoch.ft.com · 11/07/2026
Good recent study looked at something v similar and found exactly that: www.sciencedirect.com/science/arti... So this is definitely part of what’s happening, but that’s still inconsistent with (or indeed is another example of) the moving yardstick and “different people evaluate differently” issues
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John Burn-Murdoch @jburnmurdoch.ft.com · 16/05/2026
1) As explicitly stated in the piece, every region/culture has its own reasons; phones and social media are an additional force that hits ~everywhere 2) I’ve previously written about how the phones and social media theory also fits with India not seeing the same pattern www.ft.com/content/43e2...
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John Burn-Murdoch @jburnmurdoch.ft.com · 22/04/2026
Yes but I also have recent articles saying it’s also (mostly?) about weak growth 😉 www.ft.com/content/30a4...
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John Burn-Murdoch @jburnmurdoch.ft.com · 15/04/2026
…and with recent work showing Republicans tend to have a much wider ideological distribution than Dems, who cluster around consistently progressive stances bpspsychub.onlinelibrary.wiley.com/doi/10.1111/... So yep “mean left of centre, and a bigger hump on left than right” is what we’d expect
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John Burn-Murdoch @jburnmurdoch.ft.com · 15/04/2026
Well, with the aforementioned caveat about forced choice questions leading to wider distributions and more extremes: yes, as it’s consistent with what Pew found (mean significantly left of centre, larger left tail than right tail)
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John Burn-Murdoch @jburnmurdoch.ft.com · 14/04/2026
e.g here’s Pew using a similar multi-question methodology and finding similar results: www.pewresearch.org/politics/201...
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John Burn-Murdoch @jburnmurdoch.ft.com · 13/04/2026
I wouldn’t focus on the shape of general population distribution (I actually prepped a different version of the chart where everything is simply expressed relative to where the gen pop lies, see below) — it’s just shown to provide context. But perhaps it raises more questions than it answers!
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John Burn-Murdoch @jburnmurdoch.ft.com · 22/02/2026
Voila:
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John Burn-Murdoch @jburnmurdoch.ft.com · 20/02/2026
tbf that’s in large part because the individual states have their own minimum wages. Exceptionally few American workers are paid that little
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John Burn-Murdoch @jburnmurdoch.ft.com · 16/02/2026
Yep that paper was the basis for my analysis and chart here a few years back: But I now think that’s better understood as “RW media coverage of the very large wage of irregular migration in the Mediterranean in 2015”, esp since public concern spiked hugely at the same time across Europe.
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John Burn-Murdoch @jburnmurdoch.ft.com · 16/02/2026
Great piece from @dsquareddigest.bsky.social, which touches on one of the big theories for why English-speaking countries do especially badly at housebuilding: Adversarial and litigious common law systems (Anglo) vs judge-led civil law systems elsewhere. samf.substack.com/p/build-the-...
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John Burn-Murdoch @jburnmurdoch.ft.com · 16/02/2026
Main thing I’d had here is that in all the data I’ve looked at, salience generally tracks numbers for *irregular* immigration rather than the work-based flows that have been coming down www.ft.com/content/9598...
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John Burn-Murdoch @jburnmurdoch.ft.com · 23/11/2025
This chart (which applies even more to social media than it did to TV) lives in my head rent free. Social media enveloping traditional media means everything and everyone is now competing in the entertainment market. Boring stuff like policy that affects millions of lives doesn’t stand a chance.
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John Burn-Murdoch @jburnmurdoch.ft.com · 20/11/2025
Attention is on NEETs today, but the problem is much worse. NEETs include stay-at-home parents & jobseekers. Strip those out to focus on people not working, not seeking work, not in education & not parenting: this group of economically & socially dislocated young adults has *doubled* in a decade.
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/11/2025
Thanks! Free link here on.ft.com/3LK7Pum And the key charts:
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/11/2025
And I did go out of my way to emphasise — in response to a post criticising the ONS — that the ONS data revisions were a good thing! 😅 Which is a drum I have consistently been banging for months, e.g this from Jan on the same topic www.ft.com/content/522d...
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/11/2025
Worth noting: • Upward revision applies to entire 2021-2024 series — the *trend* in emigration is *roughly* flat • As infuriating as big revisions are, they mean data is getting better • BUT wild that we ever used a survey to gauge movements into and out of the country instead of counting people!
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/11/2025
A study earlier this month found that America’s more fragmented media landscape — particularly the takeoff of cable news — accounts for fully one third of the increase in cultural conflict in the US since the year 2000.
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/11/2025
Here’s the same data, but with trust broken down by political views (circles are trust among people on the left, +s the right). It’s not just that the BBC is widely consumed — it also has solid trust on both left & right, whereas trust in the biggest US media brands is hugely polarised.
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/11/2025
No single US news source is consumed by more than 25% of Americans, whereas 60% of Brits regularly watch/read/listen to the BBC. A single shared source of truth makes it harder for partisan echo chambers to form, or for divisive narratives to dominate. It’s good for social cohesion and compromise.
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John Burn-Murdoch @jburnmurdoch.ft.com · 10/11/2025
Quick thread on the BBC and the political and societal significance of recent developments: One of the main reasons the UK has historically been so much less polarised than the US, is that Britain has a shared source of information, consumed and trusted by most people regardless of their politics.
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John Burn-Murdoch @jburnmurdoch.ft.com · 31/10/2025
In fact, the UK’s top 10% now have lower post-tax incomes than they did 25 years ago. (That contrasts to the overall median, which has risen by about 25%)
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John Burn-Murdoch @jburnmurdoch.ft.com · 31/10/2025
Another big factor for the UK is its slide down the income rankings. Would-be migrants want to join a dynamic economy with the promise of high and rising wages. The UK used to fit that bill, but Britain’s top salaries are now well down the list.
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John Burn-Murdoch @jburnmurdoch.ft.com · 31/10/2025
The US remains the most popular destination among educated young adults worldwide, but its lead over #2 has narrowed from 20pts to 9pts, while the UK has plummeted from a consistent #2 ranking to #7, again with a steep fall after 2016.
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John Burn-Murdoch @jburnmurdoch.ft.com · 31/10/2025
NEW from me: Political hostility, high visa fees and (in the case of the UK) stagnant incomes are making the UK and US less attractive destinations for top international talent. That steep decline in the appeal of moving to the US after 2016 is 👀
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John Burn-Murdoch @jburnmurdoch.ft.com · 22/10/2025
Wild story. The US Federal Reserve has long used additional data from payroll-processing company ADP to buttress official jobs numbers. During the shutdown this third party data is extra important for filling the gap. And ADP has stopped sharing the data. www.wsj.com/economy/cent...
ADP stopped providing its data to the Fed shortly after a speech by Fed governor Christopher Waller in late August drew attention to the central bank's longstanding use of its weekly payroll data, according to a person familiar with the matter.

It couldn't be learned what prompted the change. The Fed's use of ADP data wasn't a new revelation.
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John Burn-Murdoch @jburnmurdoch.ft.com · 09/09/2025
British economic sentiment is following the US in becoming an increasingly partisan signal. There has been a red-blue sentiment gap for decades, but it’s widening (data: @ipsosintheuk.bsky.social / @keiranpedley.bsky.social)
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John Burn-Murdoch @jburnmurdoch.ft.com · 09/09/2025
British NIMBYism is truly a sight to behold. “We are rejecting this solar farm, because one time I saw an electric vehicle on fire, which reminded me that decades ago a coal mining disaster killed lots of children”.
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John Burn-Murdoch @jburnmurdoch.ft.com · 23/08/2025
Yep! Which echoes US economic sentiment discourse in 2023-24, where the argument was “The economy is fine! It’s the media’s fault for writing negative stories!”, but the people who had the most negative views about the economy were those who got their info from their own experiences or word of mouth
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John Burn-Murdoch @jburnmurdoch.ft.com · 23/08/2025
Yup! Not sure if you read my piece the other week, but not only is this dynamic demonstrably true in all the data we have, it’s also entirely in line with what studies have consistently found in terms of what shapes perceptions
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/08/2025
We considered that too, but because the shapes of the score distributions for the four traits differ quite markedly, that tangential quirk ends up dominating the results when you plot them on a common scale, which risks distracting from the within-trait trends:
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/08/2025
Among other things, I think one learning here is that since I always include a “data sources and methodology” box below the article, I could have included key stats like Cohen’s d for those who would have found them useful. Especially as they were pretty punchy (young adult conscientiousness below)
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John Burn-Murdoch @jburnmurdoch.ft.com · 18/08/2025
Here’s an excerpt from one of the emails I sent Chris: • We started with bottom chart • Didn’t like abstract & non-zero-based scores • Moved to second chart • Didn’t like units inaccessible to layperson • Moved to percentile points (~exact same as standardised scores, but we thought less jargony)
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