This translates into some 850 million people in the United States, the United Kingdom, Germany, Japan, Brazil, China, and India alone. Some 30 to 45 percent of the working-age population around the world is underutilized-that is, unemployed, inactive, or underemployed. In the United States and the 15 core European Union countries (EU-15), there are 285 million adults who are not in the labor force-and at least 100 million of them would like to work more. Unemployment and underemployment are high around the world. Labor markets are under strain, and talent is underutilized Please email us at: Developments in employment, income, and skillsĬhallenges in labor markets are growing, household incomes in advanced economies have been stagnating, and there are increasing skill gaps among workers. If you would like information about this content we will be happy to work with you. We strive to provide individuals with disabilities equal access to our website. The challenges of digitization-and possible solutions.How automation and technology are affecting work.Developments in employment, income, and skills.This briefing note aims to provide a fact base on the multiple trends and forces buffeting the world of work drawing on recent research by the McKinsey Global Institute and others. Independent workers are increasingly choosing to offer their services on digital platforms including Upwork, Uber, and Etsy and, in the process, challenging conventional ideas about how and where work is undertaken.įor policy makers, business leaders, and workers themselves, these shifts create considerable uncertainty, alongside the potential benefits. Many activities that workers carry out today have the potential to be automated.Īt the same time, job-matching sites such as LinkedIn and Monster are changing and expanding the way individuals look for work and companies identify and recruit talent. But these technologies also raise difficult questions about the broader impact of automation on jobs, skills, wages, and the nature of work itself.
The development of automation enabled by technologies including robotics and artificial intelligence brings the promise of higher productivity (and with productivity, economic growth), increased efficiencies, safety, and convenience. Experts in academia and industry discuss the digital future of work with McKinsey partners, in the first video of this four-part series.
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