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    <title>Labor Policy on Expert LinkedIn</title>
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      <title>Capex Is Eating Payroll — and We Still Call It Productivity</title>
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      <pubDate>Thu, 21 May 2026 00:00:00 +0800</pubDate>
      
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      <description>This week’s layoffs-and-capex cycle reveals that AI workforce risk is less about automation magic and more about who gets to convert labor budgets into infrastructure bets.</description>
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