New manufacturing jobs are vanishing, and they’re being replaced by digital manufacturing, a new report from McKinsey & Co. says.
The report, “Digital Manufacturing and the End of Manufacturing in America,” warns that digital manufacturing has been the “primary driver” of the job losses that have decimated America’s manufacturing sector in recent decades.
The economic impact of the jobs that are disappearing is expected to be as much as $3 trillion, and the job loss will have a direct impact on the federal budget, according to the report.
The McKinsey study projects that the U.S. will lose about 9 million manufacturing jobs over the next three decades.
The total economic impact will be as high as $20 trillion.
The study says digital manufacturing accounts for around 25 percent of the country’s manufacturing jobs, and it’s projected that digital jobs will disappear at least 10 percent of all manufacturing jobs in the United States by 2026.
The loss of manufacturing jobs has been a recurring theme in recent years.
In May, President Donald Trump declared that the country was at a “critical crossroads” and promised to “restore manufacturing jobs” through infrastructure investments and legislation.
But the McKinsey report says that Trump’s promise of an “economic recovery” has failed to produce a meaningful increase in manufacturing jobs.
In addition to losing manufacturing jobs to digital manufacturing jobs , the report notes that there are concerns about the impact of digital manufacturing on the U,S.
The new report is part of a larger McKinsey analysis of the effects of digital technology on the economy and the workforce.
It analyzes the impact that digital technologies are having on American manufacturing.
The analysis, titled “The Impact of Digital Technology on the Manufacturing Economy,” says that digital technology will “impact a wide range of industries from consumer goods to transportation and energy to finance, finance services and insurance, and more.”
In addition, the report says, digital technologies will have “a significant impact” on other sectors of the economy, including health care, energy, and even government.
“Digital technology is poised to transform the way businesses, consumers, and government perform their business,” the report states.
“As digital technology becomes more widely available, companies, governments, and individuals will increasingly have access to data, information, and skills from anywhere.”
The report says digital technologies can create “new opportunities for business” and that this will have an impact on employment in sectors such as finance, manufacturing, and other services.
“As digital technologies become more widely used and adopted, employers, consumers and government will have access and need for data, skills, and expertise from anywhere,” the study says.
“By 2050, the cost of creating, deploying, and managing digital technologies in manufacturing will be approximately $2 trillion.
This will create an economic drag for businesses and households, resulting in higher prices and more uncertainty for consumers and businesses,” the McKinseys report states, adding that “this drag is likely to persist over the coming decades.”
While digital technology is expected “to have a significant impact on manufacturing,” it will also have an “impact” on the labor market, the study warns.
The impact of automation on manufacturing will also be significant, with the McKinays report forecasting that “by 2035, manufacturing jobs will be more than half as large as they are today.”
The McKinseys study predicts that the number of manufacturing manufacturing jobs worldwide will fall from 1.2 million today to 1.1 million by 2035.
The number of jobs in manufacturing is expected hit by digital technology, as well.
While the number and location of manufacturing facilities will continue to decline, the McKinys report says “the jobs that have left manufacturing will tend to be replaced by other forms of employment.”
The study forecasts that the employment rate in manufacturing could decline by around 10 percent between 2025 and 2035 in many countries.
And it predicts that it will be at least 40 percent lower in the U and the U’s largest manufacturing hub, Raleigh, North Carolina.
While there is no definitive evidence that digitalization will cause any significant job losses in the future, the lack of a good business case for digital technologies is a major concern, according the McKinsters report.
“There are concerns that the negative impacts of digital technologies on the business climate and consumer spending will lead to increased prices for goods and services, leading to higher unemployment and lower consumer spending,” the authors of the report say.
“The impact on labor force participation, on wages, on the price of goods and other factors will likely be worse than previously predicted.”
McKinsey is also warning that digital companies are taking advantage of the weak demand for physical goods in the global economy.
The McKinsey researchers note that the “possibility of higher prices for physical products, coupled with the high price of digital products, could lead to an adverse effect on business sentiment, which could affect demand for goods produced by these companies.”
McKenzie said that digital industries, like the software sector,