The next big inequality crisis


Think polarization and inequality are bad now? Buckle up: big cities are poised to get bigger, richer and more powerful — at the expense of the rest of America, a new report by McKinsey Global Institute shows.

Why it matters: McKinsey’s analysis of 315 cities and more than 3,000 counties shows only the healthiest local economies will be able to successfully adapt to disruptions caused by the next wave of automation. Wide swaths of the country, especially already-distressed rural regions, are in danger of shedding more jobs.

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Number of Americans quitting their jobs at the highest rate in five years

Latest data says 2.16 million people have quit their jobs.

Americans are voluntarily quitting their jobs at the highest rate since the pre-recession era, according to the Job Openings and Labor Turnover Survey — known as JOLTS — published by The Bureau of Labor Statistics.



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The migrant worker underclass in Russia

There are as many as 12 million migrant laborers in Russia. Only 2 million work in the country legally.

Bek Takhirov, a 38-year-old ethnic Uzbek, knows all too well the problems that migrant workers face. In 2004, he came to Russia and worked illegally, stacking cargo in a warehouse for alcoholic beverages. Takhirov completed a lengthy application for Russian citizenship in order to step out of the shadows, two years ago. He now works legally in St. Petersburg as a translator by day and moonlights as a security guard by night.


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