McKinsey Says 11 Million US Workers May Switch Careers by 2035 as AI Reshapes Demand
Updated
Updated · CNN · Sep 29
McKinsey Says 11 Million US Workers May Switch Careers by 2035 as AI Reshapes Demand
3 articles · Updated · CNN · Sep 29
Summary
11 million US workers—about 6.5% of today’s labor force—may need to move into entirely different occupations by 2035, with McKinsey calling the shift a historic mobility challenge rather than a jobs shortage.
36 million jobs could see reduced labor demand from automation, but AI-related fields and broader economic growth could create demand for 40 million jobs, leaving roughly 25 million affected workers able to stay in their current occupations.
BLS data released Tuesday showed a sluggish backdrop for that transition: job openings fell to a five-month low in August, quits stayed near a six-year low and layoffs declined for a second straight month.
Worker and consumer sentiment also weakened, with Glassdoor’s employee confidence index hitting a record low in September and the Conference Board’s consumer confidence index dropping 6.7 points to 81.9, a 12-year low.
Economists now expect Friday’s September payrolls report to show hiring slowed to 95,000 from 162,000 in August, with unemployment holding at 4.1%.