A Federal Reserve study by economists Leland D. Kline and Paul E. Soto has found that the adoption of AI, particularly since the launch of ChatGPT in November 2022, has led to a 50% decline in the employment growth rate for U.S. programmers. Previously, programming jobs grew at an annual rate of about 5%, but this has sharply decreased, especially in IT services and software development sectors. The study is the first from the Federal Reserve to directly associate AI adoption with a measurable decline in developer hiring. The research indicates that despite other economic factors like rising interest rates and the crypto market crash, AI remains a significant factor in the reduced demand for programmers. The study estimates that over three years, approximately 500,000 programming jobs may have been lost due to AI advancements. However, the report notes that programmers' wages have not declined, and job openings have stabilized since 2024. The study suggests that AI-assisted programming could eventually increase demand for developers, though it remains a preliminary report pending full review.