hi, everyone. welcome to "on the money." i'm becky quick. an alarming prediction about why 1/3 of them may go away. and what can be done about it. a hallmark moment. how one greeting card company stays relevant and profitable in the digital era. it's the holiday season. so who wants to think about taxes? guess what, you do. tips that could save you money. and the hottest technology gifts for the gadget lover on your list. we've got them, no matter your price range. >> this is "on the money." your money, your life, your future. now becky quick. we begin with jobs. in just a minute we're going to talk about an alarming report that shows

as we know them may disappear. but first, a booming billion-dollar industry on e frontier of technology that encompasses gaming, medicine, and manufacturing. kate rogers has our cover story on a business where the name is virtual but the opportunities are very real. >> jesus noland grew up with a love of gaming and computers. at 30 years old he found an opportunity to combine the two working as a developer in virtual and augmented reality. >> the best thing about working in this field is being able to solve creative problems on a daily basis. >> noland is a developer at eon reality in irvine, california. the company designs applications to help train workers in varying industries. for example, exxonmobil has used eon's immersive virtual reality platform to train rormts and engineers in oil and gas production. >> vr and a.r. industry is really young. so there's a great potential for new applications that can be built by creators. >> reporter: the u.s. is on track to spend some

as the application of this technology spreads to medicine, transportation, education, energy, and other fields. eon has grown from 90 workers in 2015 to nearly 250 today and is looking to hire an additional 100 workers. >> you obviously look at people that have programming skills, that know how to build this type of rather sophisticated applications and on the other hand we're looking at people that know modeling. >> finding workers with these skills is challenging as the technology is still in its early stages. that is why eon has teamed up with several colleges across the country to help educate aspiring workers. >> we hope as we do this ourselves that universitie will pick up our curriculum and start expanding this new workforce. >> becky, we are here at lehman college's virtual reality training simulator. the students can actually code the background behind me to do different things. it's really, really neat. and we should note, worldwide revenues for vr and a.r. are

to grow by 100% each year through 2021. so you can expect job opportunities will only become bigger and bigger within the industry. back over to you. >> all right, kate, thank you very much. kaas prepare for new job opportunities that also means t jobs will be lost or at least significantly changed because of automation. one study actually estimates that as many as 1/3 of the workforce could be displaced. whandss are at risk and what opportunities will arise as a result? joining us is michael chui, partner at mckinsey global institute and one of the authors of that report. michael, let's just start with the report in itself. the headline is almost unbelievable. ide that up to 1/3 of u.s. workers and about 800 million people globally could actually lose their jobs between now and 2030. that's only 13 years away. what do you think is actually going to happen? >> that's the most extreme case in terms of the pace of automation. th mid-point of the automation that we could see by 2030 is more like 16%. the o

there, it's not just 16% of jobs. it's actually 16% of work. so in some cases that will be spread across all of us. we all have some percentage of our work which potentially could be automated. in many cases that's the work that we want to da least. we do see in most scenarios enough additional work for people to do. so then the real challenge is transitioning peopl fro jo of today to the jobs of tomorrow. we don't see this robot apocalypse where all jobs go away. >> let's talk about which jobs and which industries you think are most at risk or maybe just most susceptible to automation. >> one of them is physical activities in predictable environments. a sorts of things we see in manufacturing on an assembly line, for instance, but they also occur in everything from health care all the way through to agriculture. the places where we see additional dems potential for labor come from a number of different sources. so for instance, you know, around the world we see people becoming more prosperous. and so another billion people ente

that's going to drive additional demand for everything from cars to apparel to media. we also see aging driving additional demand for labor. so we'll ne workers, whether it's for care or other services. we do see a lot of demand for additional jobs as well. >> michael, how is this any different than what we've been seeing since we were an agrarian society? is ts a faster pace? is this more broadly being felt? what's different this time? >> yeah, part of the things that they're encouraging is that in fact in history we have been automating for at least 150 years and we've also created new jobs. are things slightly differe for artificial erent in intelligence. the new sets of activities which now can be automated. but as we analyze the differences between the past and the future in many cases we found a lot of similarities. it still takes time to adopt these technologies over time. that gives us time to adapt as we adopt, but we really do have this

to retrain people, particularly past the first two decades of life. that was one of the great stories of moving from agriculture to factories. there was no universal high school at the beginning of that story, and now there is. and the real question for us now as a society is what are the same kinds of -- what are the analogous types of investments we need to do now so we can retrain the workforce going forward? >> that begs the question what are the political implications because we do know that political backlash of what's happened as the wealth gap has kind of broadened out over the last decade or so. what next? >> a couple of things. we're not political experts per se, but i do think it is important at least from a public policy standpoint to start to understand these trends, to make it part of the dialogue. and another potential source of concern as we modeled out some of these -- the impangts e. pacts, particularly in countries such as the united states, is potentially they could increase income inequality. so i

challenges to think about. so rather than thinking about whether or n there's going to be mass unemployment, we need to think about mass redeployment and also whether or not people will be paid enough for the jbz of the future. it looks like there will be enough work. we just need to get people into those jobs. >> michael, thank you for your time today. now here's a look at what's making news as we head into a new week "on the money." a strong unemployment report for november. the economy added 228,000 new jobs last month. that was better than economists had expected. average hourly earnings climbed by .2 of a percent. the un rate held steady at 4.1%. all of that sent stocks up in early trading on friday after the dow set a record earlier in the week. the s&p 500 and the nasdaq both took a breather during the week. stocks closed higher op friday. don't look now, but there's a fast food price war that's breaking out. mcdonald's is go introduce new

coming next month. those will include some things like a dollar cheeseburger. you also can get a happy meal for three bucks. mickey d's is battling other fast food stores, dunkin' donuts and taco bell. and this falls into the category of is this really a good idea? facebook is introducing a new messaging app for kids. it allows children would are under the age of 13 to send text, video, and photos with their parents' permission. the app gives facebook access to a new market. oh, goody. the age prohibits them from using the company's main social network, but again, are we sure that this is a good idea? anyway, up next we are on money. it's been a holiday tradition for more than a century but with fewer people actually sending cards can season's greetings in an envelope survive social media? and later the clock is ticking on some valuable tax breaks. the three money-saving moves to make before the ball drops on 2017. right now take a look at how the stock market end

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one of the pleasures of the holiday seaso is opening your mailbox to find cards from friends and family. but is this tradition fading or just changing? lindsay roy is chi at hallmark . lindsay, thanks so much for being here. i always think of the holiday cards ever running around getting them out and making sure they do them, and i still get cards but a lot of the cards that come in are personalized maybe they go to tiny prints, shutterf or some of these things. how are you adapting to changes with how people either buy or make or what t with cards? >> this time of year there's a lot of photo cards out there. but the core of our business, greeting cards i picked for you, really are still thriving and stable

6.5 billion cards are still given every year in the u.s. >> that's amazing. i think hallmark is about 50% of that market. is that right? >> absolutely. we estimate slightly over 50%. >> how has that market changed over time? >> what's interesting is a lot of people assume greeting cards are like books or cds or some of those kinds of categories. but it's one of those categories that actually has perennial benefits over time. so we've seen, for instance, millennials today, obviously they're texting and using social immediate y., so the card for them has a different benefit. it breaks through the clutter and they love paper and the tactile experiences. it's a timeless category. and one of the things we're seeing, our holiday sales for instance are up this year. as we continue to watch that there's so much divisive stuff happening in the world right now. and our category is one of those that just puts some good in the world. >> card sales are up this year over last year? >> for holiday sales right now we're tracking so far. >> that's impressive. i went to buy cards, picked up some of the signature cards this week. they're beautiful. that's why we're drawn to them. but they're

cases. who are you appealing to and who will cough up that kind of cash for a card? >> yeah, it's a good question. ou 99 cents to $9.99 like you said. it just really depends. we see that a hot of our card shoppers buy across prices and across different parts of our portfolio. a lot of it depends what they're buying for, what the occasion is, who they're buying for. >> you get a 99-cent card. >> think about with your younger kids and you're going to 10 birthday cards a year for 4-year-olds, that's maybe somethg a little different birthday. it just depends, and we're com 34i9ed to having options for everybody. >> what about the stores? we hear about how retail in general is under so much pressure. i've always gone to hallmark stores. is that still going to be happening down the road? is it still a brick and mortar store or are you transitioning more of that online and other places? >> like all stores, retail is being disrupted. you know, we all know that. so we're having to change with the times as

so our portfolio offers cards that we sell online as well as we're very committed to our open stores. so our stores are continually challenging our store associates to say how do you make the experience something unique and different? i think the answer will be all . every company we're adapth with the times. >> lindsay, thank you so much for joining us. >> thanks. happy holidays. >> you too. up next, we are on the money. are you worried expected changes in washington may actually increase your tax bill? the big breaks you should grab right now while you still can. and later, looking for gift my experience with usaa has been excellent. they always refer to me as master sergeant. they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life.

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♪ when it comes to taxes, april tends to get all of the attention, but december 29th may actually be a more important date. that is the last business day of the year, and it's also the deadline for many moves that could reduce what you owe or increase what you're going to get back when you file your taxes. senior personal finance correspondent sharon epperson joins us right now with the details of all of this. sharon, what are the things we need to make sure we are doing before the end of the year? >> well, a couple things you need to make sure you're doing is maxing out your retirement plan contributions, your health savings account contributions, because you get big tax savings there. you also want to sell your investment losers. it's been an up market. might not have many. but it's something to consider. i'll tell you why. and also review your charitable contributions, your deductible expenses. >> l

a lot of people probably don't contribute the maximum. what is the maximum and what should we be d the maximum amou0 for 2017. 24,000 if you're 50 or older. and why it's important is those contributions that you make reduce your taxable income dollar for dollar for a traditional 401(k) plan. >> straight off the top. >> so you really want to make sure you contribute as much as you can up to that max. and also if you can't or if you don't have a 401(k) plan at work, maybe you can put money into an i.r.a. again, a traditional i.r.a. you can put $5,500 into that or $6,500 if you're 50 or older for the max. you have until next april to do that for the filing deadline. dollar cost averaging is very important. and if you are self-employed or you freelance, the solo 401(k) is amazing. you can put up to $55,000 into that plan. $60,000 if you're 50r older. you have to set it up by december 1st. >> dollar cost

that's great news. people feel very flush but it could mean a bigger tax bill for some people. who are those people? >> a lot of people are now going to be getting capital gains distributions from their mutual funds and they're going to be very happy about how the market's gone up. but not happy about the taxes they'll have to pay on that. something to consider is selling your investment losers, whether it's stocks or bonds or mutual funds or etfs. if you have any losers, look to . you can use those losses to offset the capital gains. that's a really great way to harness your losses is what it's called. sounds jargony, but there are ways to figure it out with a financial adviser and some robo vezers will also help you do that. >> headlines coming out of chan that could be coming. something that could become law in three weeks. hard to figure out through the noise what t mean. but what should i be doing, what coy be doing to -- >> you want to look at the deductions that may be impacted. ones you use every year like charitab

boost that right now. one way to do that talking about the up market is maybe to donate securities because throu won't have to pay the capital gains tax and you're going to get the tax deduction with the charitable contributions. so think about that. also medical expenses. if they're things that you're putting off and you could do it before the end of the year, deductible medical expenses take advantage of that now. has to be 10% though of your income. enough to really qualify toou take that medical expense deduction. and then also make sure you look at some miscellaneous deductions. we're talking about job-hunting or unreimbursed work keep the receipts for those and if there are things you nied to do before the end of the year maybe step them up and bunch those miscellaneous as well for 2017. >> sharon, thank you so much. >> my pleasure. >> u next "on the money" a look at the news for the week ahead. and not sure what to get your loved ones for the holidays? don't stress, we've got you 'vey

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♪ here are the stories coming up that may impact your money this week. monday is the ninth anniversary of the arrest of bernie madoff, who ran the largest ponzi scheme in history. tuesday is the first day of the jewish festival of lights. happy hanukkah, everyone. and voters in alabama will be choosing between republican roy

the race for the senate. on wednesday the federal open market committee is widely expected to raise interest rates. thursday we'll be seeing how the retailers actually fared for the month of november. and folks go digging in your closet because friday is national ugly christmas sweater day. the holiday shopping season is upon us and this year consumers are expected to spend more than $678 billion. but what if you have no idea what to get? joining us right now is dan ackerman from cnet to tell us about the very best tech gifts for every budget. thanks for being here today. >> glad to be here. >> if i'm on a budget there are a couple of hot new things that are out there. the echo dot.gle home mini and which one's better? >> they're actually very, very similar devices. they give you answers to questions. they'll tell you the weather. they control smart home stuff. and they're both $29 now, down from 50. >> that's crazy. >> you can add them on to, you know, the existing echo or google home that you have or th just be stand-alone devices p.

you can say alexa what's the weather? >> you say alexa what's the dot. the other one you say okay google or hey google. >> hey google what's the weather? okay. so you've got one of these devices. you say both of them are great. i can't believe the price point. what about a smart plug? what does it do? >> that's a tp link smart plug. and it works with these other devices. these little pucks are just kind of troej. horse that's get smart things into your house. i hooked this up to my christmas tree lights and i go alexa, turn on the tree. and it turns on this little switch right here and turns on the tree. >> if you're for headphones what is this pair and what's special about them? >> this is an anchor pair of sound buds kufshsz. it's an inexpensive set of headphones, $20, $25. really good ear phones. these are perfectly good for 25 bucks. you're not going to get better sound and you're not going to worry about losing them while you're out jogging or leaving

somewhere. you don't have to buy expensive headphones to get decent bluetooth sound. >> what are these things? roku. new want to get smart tv stuff, stream amazon and youtube and other services, you plug in a roku into the back of your tv. this i control for it. and amazon makes a fire tv that does a lot of the same things and apple tv. this is incred inexpensive. this is the fancy 4k version. and it makes it easy to use. they even built the software into a bunch of tvs. >> what is this thing? the amazon fir the amazon fire 0 tablet. >> how much is it? >> it is 150 although for black friday they had it down to 99. maybe they'll bring the holiday prices back. it does a lot of video streaming you can read kindle books on it. if you're not going to spend $300 or more on an ipad it's probably the best consumer tablet you can get. >> if you have a serious

all-out options? >> this is the psvr, the playstation virtual reality headset. it plugs into the playstation 4 you probably already have because they've sold tens of millions of playstation 4s and they've actually dropped the price on this very recently for the holidays, down to 9199 and you don't need to buy a $2,000 computer to run it on, it works with ps4. >> if you really want the gift that nobody else has. >> this is the one brand new game console for the this holiday season. this is the xbox 1x. and it plays the same games as the regular xbox but this does 4k and a lot of the tvs you buy now, even budget tvs-r 4k tvs. this is 499. but if you want to go absolutely crazy i tried out something recently. it's called the hp omen x compact pc. it's a computer on a backpack you wear. then you plug pc virtual reality headset into it and you get

look really cool while you're wearing it. >> and you can play virtual reality games with no wires tethering you to a desk or table or console or computer. it's $3,000. it's overly complex. it's overly expensive. you need a friend to help you hook it up. but if you want to get something lik it was a big hit in the office. >> i had people lining up to demo this. and that very rarely happens. i usually have people going oh, can i try that out? >> dan thafrksz so much. i appreciate it. that is the show for today. i'm becky quick. thank you so much for joining us. next week the king of late night. johnny carson's malibu mansion is up for sale. it's pretty nice. that may be the understatement of the century. we're going to take you on a tour. each week keep it here. we're "on the money." ha a

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good morning, america. this morning, wintry weather. the storm roaring up from the south to hit the east coast. the dangerous driving. spinouts and accidents. travelers stranded at airports. and tens of thousands left without power. what to expect this morning. returning to ruins. homeowners seeing what's left of their homes. destroyed by the devastating wildfires. >> nothing left of the room that my dad built by hand. >> as thousands of other homes are still threatened with hillsides blazing. and now the growing concerning about air quality. caught on camera. de