Up to 800m jobs could be lost to automation, says McKinsey

Up to 800m jobs could be lost to automation, says McKinsey

As many as 800 million workers worldwide could lose their jobs to automated equipment within 13 years, according to an analysis Wednesday by US consulting firm McKinsey & Co.

Of course there will be new kinds of jobs, too, McKinsey's research arm said.

But there's a catch: Given the speed of the change and the skill levels required for numerous new jobs, the need to retrain mid-career workers will be far bigger than ever before. "These jobs would result from growth in current occupations due to demand and the creation of new types of occupations that may not have existed before, as has happened historically".

By 2030, a little over ten years from now, as much as 30 percent of work done globally could be automated. And the authors of the study express confidence that, as in the past, new jobs will arise to "more than offset" those that are eliminated.

India is set to see a further 30 percent-to-40 percent reduction of jobs in the manufacturing sector compared with a year ago, according to TeamLease Services Ltd., one of the country's biggest recruitment firms. For Japan, the number is nearly 50 percent of the workforce, while in China it's 12 percent. Physical jobs in predictable environments are the most susceptible to automation; these include operating machinery and fast-food jobs. "Income polarization could continue in the United States and other advanced economies", researchers stated in the study by the McKinsey Global Institute. This is because of difficulty in automating them and lower wages that make investment in machines less compelling, according to the report.

Senate candidate faces sexual misconduct allegations
Moore has denied those allegations, calling them "completely false" and "dirty politics". There is nothing religious or Godly about a grown man taking advantage of young girls.

In contrast, automation will have a more muted effect on jobs that involve expertise, managing people and those that require frequent social interactions.

It could also boost productivity as they expect these jobs to be more highly skilled.

Tech jobs will be needed as technology advances, like "computer scientists, engineers and IT administrators", who could see job growth as companies spend more in this area, the report says.

In polling by Pew Research Center, an astounding 85 percent of American said they favored restricting automation to doing jobs that are either unsafe or unhealthy for workers to do.

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