We've heard for a couple years now that AI would take all the jobs. Here's are four things to consider: •Employers added 165,000 jobs in October, taking the three-month average to 137,000. Monthly job growth has averaged 86,000 this year, a significant recovery from the average loss of 7,000 jobs per month between May and December 2025. •The unemployment rate is at a historically low 4.1%, and it's been below 4.5% for a record five straight years. •The prime-age employment-population ratio is at 80.7%, higher than anything we saw in the 2000s or 2010s economic expansions. More people in their prime working-age years are working now than at any point during the last two expansions. •The layoff rate (layoffs as a percent of the workforce) is just 1%, even lower than the 1.2-1.3% we saw in 2018-2019, when the labor market was exceptionally strong.