making it in america: the view from america survey
TRANSCRIPT
June 2017
Table of Contents
2
• Methodology & Sample Design
• Key Findings
• Detailed Findings• Section 1: Country & Economy
• Section 2: Corporate America & Government
• Section 3: Automation, Innovation & Manufacturing
Purpose and Methodology
3
• The Making it in America: The View from America survey developed by Burson-Marsteller and conducted by research firm PSB sheds light on Americans’ sentiments about the current state of the economy, as well as their feelings about the future.
• From June 1-5, 2017, PSB conducted 1500 interviews with a General Population Survey*. The margin of error for the total sample is +/- 2.53% and larger for subgroups. The data was weighted to be nationally representative.
• This survey builds off the June 2017 Executive Survey* by McKinsey & Company, which surveyed 259 U.S. Business Leaders representing the full range of regions, industries, company sizes, functional specialties, and tenures.
*Please note that on the following slides the terminology “Americans” and “American Population” refers to the General Population Survey and “Business
Leaders” refers to the Executive Survey.
METHODOLOGY & SAMPLE DESIGN
Audience, Sample Size and Margin of Error
4
Audiences Sample Size Margin of Error
General Population “Americans” n = 1500 ±2.53%
U.S. Business Leaders n = 259 ±6.09%
American Adults by Region Sample Size Margin of Error
Northeast n = 270 ±5.96%
Midwest n = 315 ±5.52%
South n = 570 ±4.1%
West n = 345 ±5.28%
American Adults by Education Sample Size Margin of Error
High school or less n = 585 ±4.05%
Some college n = 480 ±4.47%
College n = 435 ±4.7%
American Adults by Political Party Sample Size Margin of Error
Democrats n = 602 ±3.99%
Republicans n = 406 ±4.86%
Independents n = 462 ±4.56%
METHODOLOGY & SAMPLE DESIGN
Key Findings
Key Findings
6
Despite divisions,67% of Americans are
optimistic about their future.
1
Government and business are expected
to work together to open economic
opportunity.
2
Americans have their doubts about how they
will fare. But, if they have the right tools
they still believe they can and will succeed.
3
Section 1: Country & Economy
7
1. Americans are concerned about the present, but optimistic about the future. However, opinions about the economy and the future are somewhat driven by education level.
• A large part of Americans’ optimism is driven by the belief that jobs are safe.
• Emotions about the future differ by education level, with college educated more optimistic about their future.
• Whether high cost of living/inflation, the gap between rich and poor, or taxes, the most important issues facing the U.S. economy primarily relate to money.
• More-educated Americans and Business Leaders tend to agree on issues related to the economy and the path forward.
KEY FINDINGS
Section 2: Corporate America & Government
8
2. There is general distrust of business leaders and the government, but government and business are expected to work together to open economic opportunity.
• Business Leaders say the profitability and competitiveness of their industry will stay the same or increase over the next five years.
• Across education levels, Americans trust companies but distrust Business Leaders.
• Americans believe that large companies have a more positive impact on them than the government.
• However, they say that business and government working together will be important to the path forward.
KEY FINDINGS
Section 3: Automation, Innovation, and Manufacturing
9
3. Americans recognize that automation will decrease the overall number of jobs, particularly in the manufacturing sector, but believe technology will positively impact their lives. They are optimistic about the future of technology and its impact on manufacturing.
• Americans believe technology will positively impact their lives through increased productivity and a better work/life balance. However, they also note that corporate profits will be the biggest beneficiary.
• Despite recognizing the benefits of technology, both Americans and Business Leaders agree that automation will eliminate jobs overall and there will be fewer manufacturing jobs in the future.
• Compared to today, Americans say manufacturing jobs in the future will be better paying in part because manufacturing jobs of the future will require operation of automated manufacturing systems and other advanced skills such as mechanical or electrical engineering.
• U.S. Business Leaders say the South is the most appealing location for manufacturing over the next five years, while Americans often says the region they live in is most likely to succeed.
KEY FINDINGS
Detailed Findings
Section 1
Country & Economy
Concerned about the present, Americans are optimistic about the future
12
9%
24%
48%
19%Very optimistic
Somewhat optimistic
Somewhat pessimistic
And, 59% say they are at least somewhat optimistic about the future of manufacturing in the U.S.
Today:
58% say the country is headed down the wrong track
52% say the economy is headed down the wrong track
Very pessimistic
Tomorrow: 67% say they are at least somewhat optimistic about their own future
DETAILED FINDINGS: COUNTRY & ECONOMY
9
62
28
Yes No Don't know
22
60
17
Yes No Don't know
A large part of American optimism is driven by the belief that their jobs are safe
13Q30: Do you think you will be laid off sometime in the next five years? Showing %Q31: In five years, do you think machines could replace your job? Showing %
I will be laid off in the next five years A machine could replace my job in five years
Showing American Population
DETAILED FINDINGS: COUNTRY & ECONOMY
Opinions about the economy and the future somewhat differ by education level
14
Percent who say
technology will make overall employment betterfive years from now
machines could replace their job in five years
they feel educated in the right skills to succeedin the 21st century
technology will make job satisfaction betterfive years from now
technology will make wages/ salaries betterfive years from now
the American economy is headed in the right direction
High School or Less College or More
49% 45% 55%
22% 30% 14%
54% 42%71%
59% 55% 65%
33% 30% 38%
American Population
DETAILED FINDINGS: COUNTRY & ECONOMY
Optimistic 23% 21% 28%
Insecure 18% 19% 17%
Scared 16% 18% 12%
Pessimistic 12% 10% 15%
Confused 7% 9% 5%
Overwhelmed 7% 9% 5%
Confident 6% 5% 5%
Despair 6% 5% 5%
Disinterested 2% 2% 2%
Excited 2% 1% 3%
Isolated 1% .% 2%
Emotions about the future vary depending on education
15
Q. 34: What emotion best describes how you feel about the future of the U.S. economy?
DETAILED FINDINGS: COUNTRY & ECONOMY
High School or Less College or MoreAmerican Population
47
38
34
33
32
20
18
16
12
12
12
High cost of living/inflation
Unemployment/jobs
Gap between rich and poor
Federal budget deficit/Federal debt
Taxes
Corporate corruption
Loss of manufacturing jobs
Falling or stagnant wages
Fuel/oil prices
Foreign trade/trade deficit
Technology that replaces traditional jobs
Whether high cost of living/inflation, the gap between rich and poor, or taxes, the most important issues facing the U.S. economy primarily relate to money
16Q12: What are the top most important issues facing the U.S. economy? Please select up to three. Showing %, Ranked
Showing American Population
Top issues facing the U.S. Economy
DETAILED FINDINGS: COUNTRY & ECONOMY
More-educated Americans and Business Leaders tend to agree
17
18% 13% 23% 34%reading comprehension and/or critical thinking is most important for success in U.S.-based manufacturing jobs of the future
infrastructure is most important public policy issue for job creation
Percent who say
high tech industry is most likely to create jobs in the next five years
Business Leaders
21% 15%31%
58%
40% 37% 48% 52%
Note: Business Leaders data from McKinsey Global Institute Making it in America survey, June 2017
High School or Less
College or More
American Population
DETAILED FINDINGS: COUNTRY & ECONOMY
Section 2
Corporate America & Government
Business Leaders say the profitability and competitiveness of their industry will stay the same or increase over the next five years
19
1 2
19
29
42
7
Executive Q25: Thinking of your own industry in the U.S., how do you expect its profitability and competitiveness will change, if at all, over the next five years? Showing %
The profitability and competitiveness of my own industry in the U.S. in five years will…
Showing Business Leaders
Significantly increase
Somewhat increase
Significantly decrease
Somewhat decrease
Stay about the same
Don’t know
78%
21%
DETAILED FINDINGS: CORPORATE AMERICA & GOVERNMENT
Across education levels, Americans trust companies but distrust Business Leaders
20
FavorableUnfavorable
39%
54%
96%
BusinessLeaders
Large Companies
Small Businesses
61%
46%
4%
73% say wage gap between workers and execs will grow in the next five years
88% say technology will benefit business profits in the next five years
DETAILED FINDINGS: CORPORATE AMERICA & GOVERNMENT
However, Americans believe that large companies have a more positive impact on them
21
OR
The federal government has a more positive impact on me than large companies do
41%
Large companies have a more positive impact on me than the federal government
does59%
Which of the following do you agree with more?
Showing American Population
Q24: Which of the following do you agree with more? Showing %
DETAILED FINDINGS: CORPORATE AMERICA & GOVERNMENT
Business and government working together will be important to the path forward
22
57%
35%
8%
Major role
Minor role
No role
In strengthening the economy, the federal government should play a…
In strengthening the economy, the federal government should…
61%
22%10%
Promote training andeducation for displaced
workers
Enact policies to protectthose jobs
Increase corporate taxes tofund programs fordisplaced workers
63% say the most important role of government is to protect American workers
86% support tax credits for companies that pay for workers to train in other, more modern work skills
DETAILED FINDINGS: CORPORATE AMERICA & GOVERNMENT
Section 3
Automation, Innovation & Manufacturing
2 48 8 10 12 13
10 17
27 3337 39 43
55
56
5347 42 39 34
3223
13 12 11 10 9
Business profits Productivity atwork
Work/lifebalance
Job satisfaction Wages/salaries Overallemployment
Job stability
Americans believe technology will positively impact their lives through increased productivity and a better work/life balance. However, they also note that corporate profits will be the biggest beneficiary of technology
24Q41: Five years from now, do you think technology will be making the following better or worse? Showing %
Much better
Somewhat better
Much worse
Somewhat worse
How technology will affect the following five years from now…
Showing American Population
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
21
43
11 13
58
25
43
8
20
3 2
Eliminate significantnumber of jobs
Eliminate moderatenumber of jobs
No effect Create moderatenumber of jobs
Create significantnumber of jobs
Don't know
American Population Business Leaders
Despite recognizing the benefits of technology, both Americans and Business Leaders agree that automation will eliminate jobs in the future
2525
How advancements in automation and machine intelligence will affect the net number of jobs in the U.S. over the next 20 years
Q35: How do you expect advances in automation and machine intelligence will affect the net number of jobs in the U.S. over the next 20 years? Showing % Executive Q29: How do you expect advances in automation and machine intelligence will affect the net number of jobs in the U.S. over the next 20 years?Showing %
Eliminate jobs Create jobs
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
Half of Business Leaders believe there will be a decrease in manufacturing’s share of total jobs in the U.S. economy over the next five years
2626
27
46
24
202
Significantly increase
Somewhat increase
Significantly decrease
Somewhat decrease
Stay about the same
Don’t know
Manufacturing jobs as a share of total jobs in the US economy over the next five years will…
Showing Business Leaders
53%
Executive Q26. How do you expect that manufacturing jobs as a share of total jobs in the U.S. economy will change, if at all, over the next five years?
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
While Americans believe technology will eliminate jobs in the manufacturing sector, they say the future of manufacturing is bright
27Q49: Looking ahead in five years, do you think there will be more or fewer jobs in U.S. manufacturing than there are now? Showing % Q48: Thinking specifically about manufacturing, how optimistic are you about the future of manufacturing in the U.S.? Showing %
8
33
49
11
American population
Very optimistic
Somewhat optimistic
Very pessimistic
Somewhat pessimistic
Optimism about future of manufacturing
60%
14
42
35
9
American population
Many more jobs
Somewhat more jobs
Many fewer jobs
Somewhat fewer jobs
Prediction of U.S. manufacturing jobs in five years compared to today
56%
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
Compared to today, Americans say manufacturing jobs in the future will be better paying…
28Q54: Will U.S.manufacturing jobs five years from now be better paying or worse paying than today? Showing %
7
3331
12
4
13
Significantly betterpaying
Somewhat betterpaying
Not better norworse
Somewhat worsepaying
Significantly worsepaying
Don't know
How U.S. manufacturing jobs will pay five years from now compared to today
Better paying Worse paying
Showing American Population
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
29Q52: Which of the following skills do you believe will be most important for success in U.S.-based manufacturing jobs of the future? Please select up to three. Showing % Top 7, Ranked by Business LeadersExecutive Q28: Which of the following skills do you believe will be most important for success in U.S.-based manufacturing jobs of the future? Showing % Top 7
19
21
24
32
34
38
53
18
32
38
17
18
20
30
Coding
Computer-aided design
Knowledge of mechanical and/or electrical engineering
Process engineering
Reading comprehension and/or critical thinking
Data analytics
Operation of automated manufacturing systems
American Population Business Leaders
Skills important to success in U.S. manufacturing jobs of the future
…in part because manufacturing jobs of the future will require knowledge of automated manufacturing systems and other advanced skills such as mechanical or electrical engineering
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
62
58
48
37
35
23
22
Labor costs
Availability of skilledand/or educated workers
Regulatory environment
Proximity to supply chain
Strong infrastructure
Market opportunities in agiven economy
Proximity to customerdemand 7
112
19
51
10
Business Leaders say labor costs and skilled workers are most important when deciding where to base manufacturing production and believe these factors will have a positive impact on the number of manufacturing jobs
30
Executive Q23: In your view, what are factors that U.S. manufacturing companies consider most important when deciding where to base their production? Showing % Top 7Executive Q24: What kind of impact, if any, do you believe these factors will have on the number of jobs the US manufacturing sector has the potential to create? Showing %
Showing Business Leaders
Most important factors when deciding where to base manufacturing
61%
Very positive
Somewhat positive
Very negative
Somewhat negative
Neutral
Don’t know
Impact of factors on the number of jobs the US manufacturing sector
has the potential to create
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
Business Leaders believe the South is most likely to succeed in manufacturing, while Americans think it will be the Midwest or Northeast
31Americans Q53: Of the following U.S. regions, which do you believe will be most likely to succeed in manufacturing in the next five years? Please select up to three. Showing %
Pacific Mountain West North Central
East North Central
Middle Atlantic New England West South Central
East South Central
South Atlantic
American Population 20% 13% 13% 28% 23% 13% 16% 16% 21%
Business Leaders 10% 19% 22% 30% 8% 5% 41% 37% 37%
American adults often chose their own region.
MIDWEST
SOUTH West SouthCentral
East SouthCentral
South Atlantic
Most appealing/likely to succeed in manufacturing in the next five years
DETAILED FINDINGS: AUTOMATION, INNOVATION & MANUFACTURING
WEST
Pacific Mountain West North Central
East NorthCentral
NORTHEAST
Middle Atlantic
New England
Appendix
Americans and Business Leaders are more uncertain of the economy in the longer term, with half saying people entering the workforce over the next 20 years will be the same or better and many saying it will be worse
33Q33: How do you believe the economic well-being of people entering the workforce over the next 20 years will compare with your own today? Showing %Executive Q30: How do you believe the economic well-being of people entering your home country’s workforce over the next 20 years will compare with your own today? Showing %
112
12
5
26
41
23 26
2124
8 2
52%52%
Much better
Somewhat better
Much worse
Somewhat worse
About the same
Don’t know
American Population Business Leaders
The economic well-being of people entering the workforce over the next 20 years will be…
38% 46%
Compared to the American population, Business Leaders are more likely to say the economic well-being of people in the future will be worse
APPENDIX
Americans say training and education are needed for job creation
34
What government should do about the loss of jobs due to automation and machine intelligence
61
22
10 6
Promote job trainingand education
programs for displacedworkers
Enact policies toprotect those jobs
Increase corporatetaxes to fund social and
other programs fordisplaced workers
Nothing
Q36: What, if anything, do you think the government should do about the loss of jobs to automation and machine intelligence? Showing %
Showing American Population
APPENDIX
4636
2211
Have the companies pay a differenttax rate
Have the companies train Americanworkers for new skills
Block imports offoreign/manufactured good
previously manufactured in America
Nothing
Americans – regardless of party – say the government should incentivize companies to train workers in modern skills and keep business in the U.S.
35
How government should handle U.S. companies that manufacture products in foreign countries
Q59: Do you support or oppose tax credits for companies that pay for workers to train in other, more modern work skills? Showing %Q60: What, if anything, should the government do to U.S. companies that manufacture products in foreign countries? Showing %
Showing American Population
2 11 57 29
Strongly supportSomewhat
supportStrongly oppose Somewhat
oppose
86%
Support/opposition to tax credits for companies that pay for workers to train in more modern work skills
APPENDIX
Business Leaders say spending more on infrastructure is the public-policy action most likely to support future job creation, while Americans say it is lowering healthcare costs and providing more resources for job training
36Q37: Of the following public-policy actions, which do you believe will most support job creation in the U.S. ? Select up to three. Showing % Top 10 responses; Sorted by Business LeadersExecutive Q22: Of the following public-policy actions, which do you believe will most support future job creation in the U.S.? Showing %
9
14
15
19
19
27
31
33
34
58
15
11
21
16
17
9
35
31
36
21
Bigger tax incentives for hiring
Expanding private-sector partnerships with educational institutions
Making trade deals that benefit more U.S. businesses
Reforming immigration policy
Developing a system of more portable healthcare, retirement andother benefits for temporary and/or contract workers
Reforming regulatory policy
Providing more resources for job training and/or workforcedevelopment
Better enabling U.S.businesses to bring overseas earnings back intothe country
Lowering healthcare costs
Spending more on infrastructure
American Population Business Leaders
Public-policy actions that will most support job creation in the U.S.
APPENDIX
42
39
30
23
23
21
18
15
13
11
10
8
4
4
2
1
Health care
Education
Renewable energy and/or green technologies
High tech
Oil and gas
Traditional manufacturing
Consumer goods
Construction
Advanced manufacturing
Financial services
Retail
Business services
Hospitality
Media and entertainment
Pharma
Chemicals
Industries most important to a successful U.S. economy
Americans say healthcare, education, and energy will be most important to a successful U.S. economy
37Q15: Which of the following industries do you believe are most important to a successful U.S. economy? Please select up to three. Showing %, Ranked
Showing American Population
APPENDIX
Thank you