Inside the ICE House November Markets in Focus: Labor Market Slowdown, AI Boom vs Dot Com Bubble, Market Opportunities
Nov 11, 2025
Phil Rosen, editor and market analyst at Opening Bell Daily, dives into the U.S. labor market slowdown, attributing it to Fed rate hikes, a pandemic hiring reversal, and AI's evolving role. He clarifies that AI isn't just replacing jobs, but indicative of broader economic shifts. Phil also discusses why the current AI boom is different from the dot-com bubble, highlighting solid earnings and real demand. Younger investors view market pullbacks as opportunities, showcasing a distinct behavior influenced by their experiences in crypto.
AI Snips
Chapters
Transcript
Episode notes
Three Forces Behind Labor Slowdown
- The labor-market decline stems from three simultaneous forces: Fed rate hikes, reversal of the pandemic hiring boom, and AI adoption.
- Treat AI as one meaningful factor among structural monetary and cyclical employment shifts.
AI Is A Real Productivity Driver
- Companies cite AI as a convenient explanation but it's grounded in real productivity gains already visible today.
- Phil Rosen observes personal and peer-level productivity improvements that justify firms betting on future headcount reductions.
Personal Example Of AI Boosting Output
- Phil Rosen describes using AI to produce his newsletter, video, and research with a much smaller team than pre-2021.
- He credits AI for enabling the same output with fewer hires compared with the pandemic period.