McKinsey Global Institute analyzes 315 U.S. cities in terms of how tech automation affects their workers in the next 10 years.

Dan Rochefort

2019-08-10 21:44:00 Sat ET

McKinsey Global Institute analyzes 315 U.S. cities and 3,000 counties in terms of how tech automation affects their workers in the next 5 to 10 years. This analysis finds that the zip code of primary residence may be the most important determinant of the economic future for the American middle class. The 25 U.S. mega-cities and their peripheries are home to about a third of the chief American workforce. These metropolitan areas are likely to continue to capture 60%+ of U.S. job growth in the next few years. By contrast, 54 suburban areas and 2,000 rural counties are home to only a quarter of the U.S. population, and the rural areas may suffer with virtually zero employment growth in the next decade.

In this fresh light, America is a mosaic of local economies that traverse on divergent economic trajectories. Tech automation and artificial intelligence may inadvertently widen these economic disparities. The McKinsey report further indicates that the current tech trends may displace about 12 million Hispanic and African-American workers in the next few years. The government needs to invest in higher education to build the U.S. workforce of the new century, and this public investment should focus on closer employer-educator partnerships.

 


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Yale macro economist Stephen Roach draws 3 major conclusions with respect to the Chinese long-run view of the current tech trade conflict with America.

Joseph Corr

2019-09-05 09:26:00 Thursday ET

Yale macro economist Stephen Roach draws 3 major conclusions with respect to the Chinese long-run view of the current tech trade conflict with America.

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New York Fed CEO John Williams sees no need to raise the interest rate unless economic growth or inflation rises to a high gear.

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2019-02-28 12:39:00 Thursday ET

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Central banks in India, Thailand, and New Zealand lower their interest rates in response to the Federal Reserve rate cut.

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2019-09-11 09:31:00 Wednesday ET

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2020-01-08 08:25:00 Wednesday ET

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Many young and mid-career Americans fall into the financial distress trap in rural communities.

John Fourier

2019-08-01 11:33:00 Thursday ET

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Many young and mid-career Americans fall into the financial distress trap in rural communities. A recent analysis of 25,800 zip codes for 99% of the U.S. po

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AYA fintech finbuzz analytic report on the U.S. top tech titans Fall-Winter 2019

Andy Yeh Alpha

2019-11-06 12:29:00 Wednesday ET

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Our fintech finbuzz analytic report shines fresh light on the fundamental prospects of U.S. tech titans Facebook, Apple, Microsoft, Google, and Amazon (F.A.

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