[srj]

I've seen zero job loss from AI but substantial job loss to off-shoring. What you said about over-hiring I think is also true, but if you look at headcount numbers they have dropped only marginally. The geographic distribution of that headcount however has shifted in a big way to India, Latin America, and Eastern Europe. The reason is obvious, people in those countries are paid far less (often 1/3 or 1/4) compared to their US counterparts.

It seems this rarely gets discussed in the media though. As you said, AI gets more readership attention. I also get the impression people feel there's something culturally offensive about discussing off-shoring.