![]() That compares to 22% for Asian and White workers each. The Hispanic community is at risk of losing 25% of its job count, while Black Americans face a 23% displacement rate, McKinsey said. While automation threatens the jobs of workers across ethnicities, research from management consultancy McKinsey found that Hispanic and Black Americans have the highest chance of job displacement. ![]() The restaurant industry has been among the most visible adopters of robots and other tech, for instance. ![]() ![]() The pandemic is speeding up automation in some sectors, especially in industries struggling to hire workers. "Even though traditional teller positions and paperwork-heavy jobs in loan processing have declined, banks have hired new armies of technologists, cybersecurity experts, developers and data analysts," he said. Whereas we had 17,886 banks in 1984, we have 4,951 today."ĭespite fewer physical branches and fewer bodies, Reuter characterized banking as a "diverse and highly competitive industry that helps to propel the U.S. "In fact, it's been part of the conversation for as long as I've been in banking. "Bank consolidation is a long-term trend," FirstBank CEO Jim Reuter told federal lawmakers in a congressional hearing on Wednesday. To be sure, the banking industry has been shrinking for years as smaller and midsize banks are acquired by larger institutions.
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