Between 90 and 95 million low-skill workers -- or 2.6 percent of the global workforce -- will not be needed by employers by 2020 and will be vulnerable to permanent joblessness, according to a report released Thursday by the McKinsey Global Institute.
Meanwhile, employers around the world will need nearly 45 million more medium-skill workers (with secondary school and vocational training) and 38 to 40 million more high-skill workers (with a college education) than will be available, according to the study.
The rapid growth in the number of low-skill workers, relative to employers' demand for them, is likely to create even more income inequality around the world, the study said.Read it at Huffington Post
"The polarization of incomes between high- and low-skill workers could become even more pronounced, slowing the advance in national living standards, and increasing public-sector burdens and social tensions," the study said.
90 Million Workers Won't Be Needed By 2020, Study Says
by Bonnie Kavoussi