In this week's episode of WSJ’s Take On the Week, co-hosts Telis Demos and Miriam Gottfried are joined by WSJ economics reporter Justin Lahart to discuss why gold has smashed records, and how global instability and the "Sell America" trade has fueled the rally. Next, they look ahead to Amazon’s earnings to see if the e-commerce giant can prove AI investments are boosting the bottom line, as Meta did, or if ongoing layoffs signal deeper issues in the labor market. Justin also previews this week’s jobs report and explains why an upcoming benchmark revision might rewrite our understanding of the past year's job growth. Then after the break, Telis and Justin are joined by Erik Brynjolfsson, director of the Stanford Digital Economy Lab, to unpack whether AI is actually killing jobs. Brynjolfsson shares his research into how his research has found a decline in entry-level roles, but argues a productivity boom is imminent. Later, we ask him a fun question written by Google’s Gemini app. Chapters: 00:00 “Let’s not trap ourselves to using AI to replace people” 00:28 Gold's unprecedented surge and market tremors 04:49 Amazon earnings and the tech hiring cycle 07:21 What to watch in the upcoming jobs report 12:36 AI's impact on entry-level employment 14:51 The automation of junior software developers 16:22 Blue collar versus white collar in the AI era 17:41 The Turing trap and augmenting workers 19:33 Rethinking career paths for young workers 22:32 Where we are on the productivity J-curve 24:09 Beyond generative AI: The future of tools 26:05 Measuring economic growth with GDP-B 28:34 Digital goods and unmeasured benefits This is WSJ’s Take On the Week where co-hosts Telis Demos, Heard on the Street’s banking and money columnist, and Miriam Gottfried, WSJ’s private equity reporter, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com. #WSJ #AI #Economy