100 Million Workers in Eight Nations May Need to Change Occupations by 2030 Due to COVID-19: McKinsey

More than 100 million workers across the world’s top eight economies may be forced to change occupations by 2030 due to the effects of the coronavirus pandemic, according to a report released by consultant firm McKinsey & Company on Thursday, The Hill reported. The COVID-19 crisis has accelerated globally trending changes in the workplace, prompting McKinsey to raise its prediction for how many workers will likely need to switch jobs in the top eight economies by 12 percent. This would add up to one in 16 workers having to change jobs in China, France, Germany, India, Japan, Spain, the United Kingdom and the U.S. The estimated 100 million includes 17 million employees in the U.S., amounting to one out of every 10 workers, as low-wage work in retail and hospitality dwindles, Bloomberg News reported, citing the analysis. Women, ethnic minorities, young people and less-educated workers in the U.S. and Europe are now more likely to have to switch jobs than before the pandemic, McKinsey said. Read more.