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AJ Mast / AP

While economists and futurists are rightly concerned about the possibility of mass unemployment precipitated by automation technology, right now the U.S. economy is experiencing one of the tightest labor markets in a generation.

The immigration paradox: It's rural counties in midwest states like Indiana that have the lowest unemployment rates in America, and could therefore benefit from a bit more immigrant labor. In all, 73 U.S. counties have 2% joblessness or lower, according to government statistics.

Take, for example, Indiana' Kosciusko County, home to a third of global orthopedic device production. The Washington Post reports that manufacturers there are struggling to find workers for dozens of open positions, as the county's unemployment rate sits at a minuscule 2%.

And while the population in a lot of the former manufacturing towns of the Midwest has shrunk, many rural counties have seen it tick up. The population of the northern Indiana town of Warsaw, for instance, has gone over 14,000, from just over 12,500 in 2000, the Post reports.

But these are also the places that are culturally averse to immigration — a 2015 UCLA study pegged Indiana as the fourth most-inhospitable state to undocumented immigration.

The Fed's quandary: The U.S. central bank is raising interest rates under the presumption that such labor shortages will soon cause steep wage increases, and lead to inflation. We aren't seeing those effects just yet, and left-leaning economists argue that the Fed needs to embrace tight labor markets to help raise pay for the working class.

Go deeper

Trump's legacy is shaped by his narrow interests

Illustration: Annelise Capossela/Axios

President Trump's policy legacy is as much defined by what he's ignored as by what he's involved himself in.

The big picture: Over the past four years, Trump has interested himself in only a slim slice of the government he leads. Outside of trade, immigration, a personal war against the "Deep State" and the hot foreign policy issue of the moment, Trump has left many of his Cabinet secretaries to work without interruption, let alone direction.

Updated 3 hours ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

  1. Health: The good and bad news about antibody therapies — Fauci: Hotspots have materialized across "the entire country."
  2. World: Belgium imposes lockdown, citing "health emergency" due to influx of cases.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  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."
Bryan Walsh, author of Future
3 hours ago - Technology

AI and automation are creating a hybrid workforce

Illustration: Annelise Capossela/Axios

AI and automation are receiving a boost during the coronavirus pandemic that in the short term is creating a new hybrid workforce rather than destroying jobs outright.

The big picture: While the forces of automation and AI will eliminate some jobs and create some new ones, the vast majority will remain but be dramatically changed. The challenge for employers will be ensuring workforces are ready for the effects of technology.