Advances in automation are undoubtedly changing the nature of work.
And a new report from McKinsey & Co. has highlighted a specific demographic most at risk of the impending automation wave — African Americans. With the problem being particularly acute for men, and those without a college degree.
The core reason is because African American workers are overrepresented in high-displacement job categories like office support secretaries, fast-food and service workers, mechanics and other production positions.
It’s an issue, William Goodloe, President and CEO of Sponsors For Educational Opportunity (SEO), said could very well could happen without strong consistent and meaningful intervention.
”This is why SEO exists, to help create a more equitable society. And we realize that talent is widely distributed, but yet it's unevenly developed,” Goodloe said in an interview with Yahoo Finance’s On The Move. “And we're in the talent development business, and helping close the opportunity gap for young people of color in particular, by reverse engineering and developing out talent development to help them meet the existing standards for success in college as well as in careers.”
The McKinsey study goes on to say that the impact on African American men could be mitigated by both public- and private-sector institutions pursuing “large-scale economic-development strategies” to increase jobs and opportunities.
Bridgette Webb is a producer at Yahoo Finance. Follow her on Twitter @bridgetteAwebb.
More from Bridgette:
Apple’s move to make new Mac Pros in the US a smart one: Loup Venture's Gene Munster
Virgin Hyperloop One could build the world’s first hyperloop in India
How new NCAA rules could impact the college sports business model
Goldman Sachs gets bullish on Chipotle, restaurant stocks
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.
