Image: H. Armstrong Roberts/ClassicStock/Getty; Illustration: Aïda Amer/Axios

The employment outlook for African Americans will "worsen dramatically" as automation upends the workforce, according to a new report from McKinsey & Co.

Why it matters: By 2030, African American workers stand to lose hundreds of thousands of jobs as a result of increased automation, widening the racial wealth gap and weighing down overall U.S. growth.

  • The problem will be particularly acute for men, younger workers between 18 and 35, and those without a college degree, according to the report, "The future of work in black America."

The cost: Researchers have projected that closing the racial wealth gap could net the U.S. economy between $1.1 trillion and $1.5 trillion by 2028.

  • The additional loss of jobs and buying power from African Americans could mean further opportunity cost losses.

Details: African American workers are at risk of exceptional job losses for three key reasons.

  1. They are over-represented in "support roles that are most likely to be affected by automation, such as truck drivers, food service workers, and office clerks."
  2. They have an unemployment rate that is double that of white workers, "even when controlling for education, duration of unemployment, and the cause of unemployment."
  3. They are underrepresented in five of the six parts of the country projected to grow the fastest, and over-represented in parts of the country that are on pace to see the slowest growth.

Between the lines: Researchers found "more than 200 counties, largely concentrated in the Southeast and Midwest, where a decline in African American net job growth could occur alongside an increase in job growth for white employees."

  • African American women are expected to fare better than men, in part because of their strength in fields projected to grow — home health aides, nursing assistants and personal-care aides.
Data: Adapted from McKinsey & Co., "The future of work in black America." Graphic: Noa Yadidi/Axios

The bottom line, from Kaveh Waddell, co-author of Axios Future: Preparations for the future of work, like job training programs and potential new safety nets, will need to be tailored in part to the groups who will bear the brunt of the changes.

  • Otherwise, this inflection point could widen longstanding pay gaps rather than shrink them.

Go deeper: Read the report

Go deeper

Dozens of Confederate symbols removed in wake of George Floyd's death

A statue of Confederate States President Jefferson Davis lies on the street after protesters pulled it down in Richmond, Virginia, in June. Photo: Parker Michels-Boyce/AFP via Getty Images

59 Confederate symbols have been removed, relocated or renamed since anti-racism protests began over George Floyd's death, a new Southern Poverty Law Center (SPLC) report finds.

Why it matters: That's a marked increase on previous years, per the report, which points out just 16 Confederate monuments were affected in 2019.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 10:30 p.m. ET: 20,532,835 — Total deaths: 747,845— Total recoveries: 12,743,275Map.
  2. U.S.: Total confirmed cases as of 10:30 p.m. ET: 5,193,266 — Total deaths: 165,934 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. Politics: Pelosi says Mnuchin told her White House is "not budging" on stimulus position.
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: America's two-sided COVID-19 response America is flying blind on its coronavirus response.
  6. Education: New Jersey governor allows schools to reopenGallup: America's confidence in public school system jumps to highest level since 2004.
Updated 2 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

France reported more than 2,500 new COVID-19 cases in 24 hours — the largest single-day number since May. French officials said the situation was "clearly worsening," per France 24.

By the numbers: Over 745,600 people have died of the novel coronavirus globally and over 20.4 million have tested positive, per Johns Hopkins. Almost 12.7 million have recovered from the virus.