Torsten Sløk has a blunt message for executives and policy makers rattled by headlines of AI-driven layoffs. Zero evidence exists that the technology destroys net employment. The data tell a different story. The chief economist at Apollo Global Management examined weekly ADP private payroll figures through late May 2026. They show steady gains. No dip appears that one could tie to artificial intelligence. Instead companies hire specialists to implement the new tools. Data centers rise. That construction lifts demand for semiconductors, equipment and power. Salaries for AI talent climb. Prices follow. “There is zero evidence of job losses because of AI,” Sløk wrote in his May 29 note on the Apollo site. “The bottom line is that the AI spending boom is stoking both employment and inflation.” He expects May nonfarm payrolls to beat the consensus forecast of 95,000 by a noticeable margin. ( Apollo Global Management ) The argument rests on a 160-year-old observation.…