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Reproduced from NTIA; Chart: Axios Visuals

The coronavirus crisis may offer a grim preview of further marginalization for Americans of color in the coming decades, a new Deutsche Bank report concludes.

The big picture: "COVID is a picture of what the world might look like in the future as it gets more digitized," Apjit Walia, a technology strategist with Deutsche Bank, told Axios. His report finds that Black and Hispanic Americans are particularly vulnerable to being left behind as the workforce further digitizes and inequality rises.

By the numbers: 76% of Black people and 62% of Hispanic people in the U.S. could be shut out or underprepared for 86% of jobs in the country by 2045, according to the report. The pandemic has already offered a model for how that divide might play out.

  • Black people had to venture out of their homes 135% more than white people in April compared to pre-COVID, Deutsche Bank found, per geolocation data gathered in majority Black and majority white neighborhoods in Chicago, New York and Los Angeles.
  • "We believe this is an accurate representation of the state of the racial digital divide in the country," write Walia and report co-author Sai Ravindran. "Clearly, poor access to Tech connectivity & work-from-home jobs rendered minorities with few choices but to venture out of home to make a living, even with peril to their lives."

Black and Hispanic people are a decade behind white people in the U.S. when it comes to levels of broadband access in the home, according to data Deutsche Bank highlights from the National Telecommunications and Information Administration.

What's next: Big Tech firms could step in to help bridge the digital divide, such as by offering job training and funding connectivity initiatives, Walia said.

Go deeper

Dion Rabouin, author of Markets
Dec 14, 2020 - Economy & Business

Pandemic-era debt could spawn new global wave of "zombie firms"

Reproduced from BofA Global Research; Note: Banks included are Federal Reserve, European Central Bank, Bank of Japan, Bank of England, Bank of Canada and Reserve Bank of Australia; Chart: Axios Visuals

Fears are mounting that a massive growth in debt and the current policy environment — described as "monetary policymaking on steroids," by Michael Arone, chief investment strategist for State Street Global Advisors, earlier this year — could be producing a new global wave of "zombie firms," a new G30 report by top economists and central bankers warns.

What it means: "The term 'zombie firms' was coined to refer to firms propped up by Japanese banks during Japan’s so-called 'Lost Decade,' following the collapse in 2001 of the Japanese asset price bubble," according to the report.

Cryptocurrency giant Coinbase heads to Wall Street

Illustration: Annelise Capossela/Axios

Coinbase, the country's largest cryptocurrency exchange, is expected to go public today at what could be a valuation north of $100 billion.

Why it matters: This gives crypto a Wall Street seal of legitimacy, after an early existence marred by ties to illicit goods.

In photos: St Vincent water supply running low as volcano eruptions continue

La Soufrière volcano erupting in Saint Vincent on April 9. Photo: Zen Punnett/AFP via Getty Images

There are "chronic water shortages" in St. Vincent and the Grenadines as La Soufrière volcano continues to explode, government spokesperson Sehon Marshall told a local radio station Tuesday.

The big picture: Up to 20,000 people have been evacuated from the Caribbean island's northern region since the volcano began erupting there last Friday, per AP. Over 3,000 evacuees are staying in more than 80 government shelters.