40 million jobs needed


More than 40 million people are unemployed in developed economies alone. In this video, McKinsey partners Byron Auguste, James Manyika, and Katrin Suder discuss the underlying causes of the jobs crisis and some of the ways business and government can cooperate to create the millions of jobs that are needed.

Addressing supply and demand

Our emerging perspective is that the jobs crisis in the developed world is not a product of recession alone, and will not be solved simply by restoring economic growth. Growth is necessary and desirable. But in many countries, the historical link between growth and job creation was weakening before the current downturn began.

Moreover, high job vacancy rates in some regions and industries suggest that labor markets are also failing to match supply and demand for skilled workers. While the causes of unemployment vary from country to country, any holistic approach to creating jobs and economic opportunity must address both the demand and the supply side of the jobs equation.


Help wanted

Help wanted

The McKinsey Global Institute examines five trends that are influencing employment levels and shaping how work is done and jobs are created.more

How to compete and grow

How countries can compete and grow

The McKinsey Global Institute analyzes policies and regulations that have succeeded and those that have failed in fostering economic growth and competitiveness at the sector level.more

Growth and renewal in the United States: Retooling America's economic engine

Growth and renewal in the United States: Retooling America's economic engine

To match the GDP growth rates of the past 20 years, the US needs a 34 percent acceleration in productivity growth to a rate not achieved since the 1960s. more