AI will create more jobs than it kills, McKinsey says, but 11 million Americans may need new careers
A McKinsey Global Institute report suggests that while AI and automation will displace millions of U.S. jobs by 2035, an equal or greater number of new roles will be created. The primary challenge identified is the need for large-scale workforce mobility and retraining as workers transition between industries.
Why it matters
This report provides a framework for understanding the long-term economic impact of AI on the labor market and the necessity of proactive career transition policies.
AI and automation will cut demand for about 36 million U.S. jobs by 2035 while growth elsewhere creates about 41 million, according to a new report from the McKinsey Global Institute.
The jobs will exist, the authors argue, but it’s getting workers into them that’s the problem.
“The next decade’s challenge is mobility, not scarcity,” they wrote.
In its base case, about 11 million workers, roughly 7% of the workforce, would need to leave their occupations entirely, with a range of 6 million to 16 million. That’s close to the firm’s 2023 forecast of 12 million career switches by 2030.
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