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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
Oct 23, 2020 - Economy & Business

Turkish lira's crash shows the value of central bank confidence

Expand chart
Data: FactSet; Chart: Axios Visuals

The value of the Turkish lira against the dollar fell more than 2% immediately following the central bank's decision not to adjust its benchmark one-week repo rate, sending the currency plummeting to its lowest level on record.

Why it matters: Turkey is becoming a cautionary tale of what can happen when a central bank loses its independence and credibility and is effectively controlled by the president.

Updated 5 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — U.S. sets new single-day case record.
  2. Politics: States beg for Warp Speed billions.
  3. World: Taiwan reaches a record 200 days with no local cases.
  4. Education: Surge threatens to shut classrooms down again.
  5. Technology: The pandemic isn't slowing tech.
  6. Travel: CDC replaces COVID-19 cruise ban with less restrictive "conditional sailing order."
  7. Sports: High school football's pandemic struggles.
  8. 🎧Podcast: The vaccine race turns toward nationalism.
24 mins ago - World

Belgium imposes lockdown, citing "health emergency" due to influx of COVID-19 cases

Belgium Prime Minister Alexander De Croo. Photo: THIERRY ROGE/BELGA MAG/AFP via Getty Images

Belgium is enforcing a strict lockdown starting Sunday amid rising coronavirus infections, hospital admissions and a surge of deaths, Prime Minister Alexander De Croo announced on Friday.

Why it matters: De Croo said the government saw no choice but to lock down "to ensure that our health care system does not collapse." Scientists and health officials said deaths have doubled every six days, per the Guardian.