SNEAK PREVIEW + 1 ADVANCED CONCLUSION: New Report from McKinsey Global Institute

First the exclusive THE NEXT BIG INEQUALITY CRISIS
Projected net job growth, 2017–30
Think polarization and inequality are bad now? Buckle up: big cities are poised to get bigger, richer and more powerful — at the expense of the rest of America, a new report by McKinsey Global Institute shows.

Why it matters: McKinsey's analysis of 315 cities and more than 3,000 counties shows only the healthiest local economies will be able to successfully adapt to disruptions caused by the next wave of automation. . . The big picture: The labor market will become more polarized.

SPOILER ALERT:

What's next:

It's going to be up to local and federal policy makers to proactively create employment paths for the those most likely to face displacement, McKinsey's Lund said. "Lifting up these places will not just happen naturally," she said. "It will take a concerted effort."

- infographic insert from blogger >

READ MORE > ( An Exclusive from Axios.com )

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CONCLUSION from https://fortune.com/2019/07/11/mckinsey-report-automation-zip-codes/

Your Zip Code May Determine Your Economic Future: CEO Daily

By Alan Murray and David Meyer

July 11, 2019

"Good morning.

The deepening fault lines in today’s economic landscape are defined both by education and by geography. There is a widening gap between the haves–well-educated and well-located–and the have-nots. And in the U.S., at least, that divide is going to get worse.
That’s the conclusion of a new study being published later today by the McKinsey Global Institute. It looks at 315 U.S. cities and 3,000 counties and how their workers will be affected by automation over the next couple of decades.
My takeaway after reading it: your zip code may be the most important determinant of your economic future.
Consider this:
– The 25 U.S. mega-cities and their peripheries that have led growth in the last decade—home to roughly a third of the workforce—will continue to capture 60% of job growth through 2030, according to the study.
– By contrast, 54 trailing cities and 2,000 rural counties—home to a quarter of the population—will suffer, with virtually no growth in employment.
– The remaining cities and counties represent a muddy middle, where job growth will be possible, but not certain.
The report should be a call to action, particularly for cities and counties in the muddy middle. “America is a mosaic of local economies on diverging trajectories,” the report says, and “automaton could widen existing disparities.” But communities have an opportunity to improve their odds by working to build the “workforce of the future,” creating job and skill training programs and encouraging smart employer-educator partnerships. As I’ve said before in this space, preparing workers for the next wave of automation may be the defining challenge of our times.
This report suggests every community needs to put it at the top of their priority list.
Other findings from the report:
– The education fault line will grow deeper: Individuals with a high school degree or less are four times more likely to hold roles that can be automated than people with bachelor degrees.
– As the education fault line deepens, so will racial fault lines: as many as 12 million Hispanic and African-American workers may be displaced.
The report will be published later today at McKinsey.com. https://fortune.com/2019/07/11/mckinsey-report-automation-zip-codes/m
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