Automation is already eroding the jobs market; according to a new report, the trend is about to become much sharper. The McKinsey Global Institute is predicting up to 800 million jobs across 46 countries will become automated by 2030. In fact, nations such as the US and Germany could see around 30% of the current workforce unemployed. However, poorer countries are likely to feel minimal employment impact from automation. For example, JPR expects India to lose 9% of jobs to automation during that period.
Robots to Take 800 Million Jobs by 2030
Automation could trigger the biggest global transition since the industrial revolution. However, unlike the industrial revolution, automation will reduce the employment landscape, not broaden it. In fact, jobs created during the industrial revolution are the roles automation will threaten. The McKinsey Global Institute reports “between 400 million and 800 million individuals could be displaced by automation” by 2030. However, this estimate represents the most rapid adoption scenario.
Developed Countries Hit Hardest
Automation will more severely impact developed counties, like Germany, the US, Japan, and China. In fact, the Chinese workforce, due to its sheer population, will show the largest number of affected workers in the world. The report explains that automation could affect up to 100 million Chinese workers. However, this number only represents 12% of China’s 2030 workforce. 100 million, though, is still a significant headcount. Furthermore, JPR adds that developed countries will be hardest hit by automation:
“For advanced economies, the share of the workforce that may need to learn new skills and find work in new occupations is much higher: up to one-third of the 2030 workforce in the United States and Germany, and nearly half in Japan.”
Image courtesy of Qniksefat.
