Axios Macro - 1 big thing: Rough time for office workers
February 12, 2026
Despite strong GDP growth and low unemployment, the core white-collar sectors — finance, insurance, information, and professional and business services — have been losing jobs since late 2022, marking a sharp break from their steady growth in the 2010s. While these industries account for over 40% of U.S. GDP and continue expanding economically, employment in them has fallen as companies correct pandemic-era overhiring, streamline operations, and increasingly automate work, including through AI. The result is higher productivity but fewer office jobs, helping explain why many Americans feel pessimistic about the job market even though broader economic indicators remain solid.