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AI will create more jobs than it kills, McKinsey says, but 11 million Americans may need new careers
Fortune • • general
Key Points:
- McKinsey forecasts that by 2030, about 11 million workers (7% of the workforce) will need to switch occupations entirely, often moving from lower-paid sectors like retail and administrative support to growing fields such as healthcare and construction.
- Workers face significant challenges in transitioning, as nearly half encounter large skill gaps or credential requirements, with 85% of growing jobs needing formal credentials.
- Geographic mobility is crucial since 76% of growing jobs cannot be done remotely, requiring workers to relocate, often to urban centers where cognitive and knowledge-based jobs concentrate.
- Urbanist Richard Florida highlights historical labor shifts and predicts displaced service workers will find new opportunities in wellness-related sectors, which may transform into higher-paying jobs.
- Cities are actively attracting talent by investing in educational institutions, exemplified by major commitments like Ken Griffin’s $3 billion donation to Carnegie Mellon’s new Miami campus and Vanderbilt’s graduate campus in West Palm Beach.
