CBX Daily 12/12/2024

Author

Claire Moraa
December 12, 2024

Today, disastrous weather events are causing insurance premium increment, but let’s start with how automation may cause unemployment…

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Could Robo-Replacements Be The End Of Low-Skill Jobs?  

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The rapid rise of work automation is growing at an unprecedented rate and is now affecting even low-skilled workers with 47% of workers facing job displacement in the next decade. Research shows that when robots are introduced in various industries, job transitions to better-paying roles become reduced significantly. Robots are not just replacing jobs, they're also reducing the overall career value and opportunities for upward mobility for low-skilled workers. To add salt to the injury, the unemployment rate is steadily increasing jumping to 4.2% from 3.7% in 2023.      

Exploring The Rising Tide Of Billion-Dollar Weather Events                

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Climate change is causing insurance premiums to soar, leaving many homeowners struggling to keep up. The rising frequency and severity of extreme weather events is causing many insurers to withdraw from high-risk markets altogether. In fact, some areas are becoming effectively ‘uninsurable’. In 2024 alone, the U.S. experienced 24 of these billion-dollar disasters, including hurricanes Beryl, Helene, and Milton. These events are unfortunately part of a troubling trend; 2023 saw a record 28 billion-dollar disasters, with total costs reaching $165 billion.      

Investing In The Next Wave Of Children's Mental Healthcare Access              

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Money meets mission in America's latest healthcare frontier. Currently, 1 in 5 children experiences a mental health condition, while more than 50% of these young patients cannot access appropriate care. It’s numbers like these that have sparked a gold rush among investors like Khadijah Robinson, General Partner at Fictive Ventures, to support entrepreneurs like Hafeezah Muhammad, CEO of Backpack Healthcare, an A-I driven mental health platform for children, to transform the industry into a catalyst for innovation and representation.      

Tune-in Tuesdays!

There’s a rising trend of internet and social media shutdowns in Africa. Is this about curbing unrest or a desperate move by governments to suppress dissent and control freedom of expression?

A. "Game" by Vanessa Mdee – Governments are playing a dangerous game citing that shutdowns are in the interest of national security to prevent potential chaos fueled by online mobilization and misinformation
B. "Stamina" by Tiwa Savage, Ayra Starr & Young Jonn – While these shutdowns might be temporary, the African public's resilience and creativity are endless. Governments can't suppress the need for communication and freedom forever
C. "Insecure" by Sauti Sol – These shutdowns are a clear indication that African leaders are afraid of the power social media gives the people. It’s a last-ditch effort to maintain power in an era of digital activism

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it looks like there will be ‘New Rules’ as people have more faith in BRICS than Trump's threats.

Latino Underrepresentation In Hollywood Is Leaving Profits Behind            

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Despite Latinos comprising nearly 20% of the U.S. population, their visibility in media remains shockingly low. A recent study by the USC Inclusion Initiative examined 1,600 top-grossing films from 2007 to 2022 and found that Latinos held just 5% of lead roles in major films. Behind the camera, the situation is similarly bleak, with only 3.5% of casting directors identifying as Hispanic or Latino. These disparities are not just cultural oversights—they represent a significant missed financial opportunity for the entertainment industry.     

Annual Health Premiums Surge For Family Insurance Coverage          

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The annual cost of family health insurance coverage at work is soaring with employees shelling out an average of $6,575 for their share of the premium, up almost $500, or close to 8%, from last year. This considerable increase in health insurance premiums could be the tipping point with nearly two-thirds of employed Black and Hispanic adults who reported difficulty affording health care costs.     

Vibes of the Week

Robots do not have "Better Thangs" for the job market as told by Ciara and Summer Walker in our CBX Vibes!