100 Million Workers May Need to Switch Occupation by 2030

Bookmark
100 Million Workers May Need to Switch Occupation by 2030

Over 100 million workers in eight of the world’s largest economies may need to switch occupation by 2030 as the Covid-19 pandemic accelerates changes to the labor force, according to research by McKinsey & Co. One-in-16 workers in China, France, Germany, India, Japan, Spain, the U.K. and U.S. will likely need to change profession, a report published Thursday found. The less educated, women, ethnic minorities and young people will be most affected and, for many, it will mean retraining to seek work in higher-skilled roles as the share of employment in low-wage occupations declines.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.