The labor market is upside down. Here’s what CEOs can do about it

Business leaders can play a key role in easing labor market pressure and helping to make sustainable and inclusive growth a reality.

This article is reprinted with permission. Read the full commentary in CNN Business Perspectives.

As the managing partner for McKinsey in North America, I talk to CEOs every week, and I keep hearing the same thing across all industries and regions of the United States: we’re in one of the most bewildering labor markets in a generation.

Job openings remain dramatically higher than prepandemic levels. Yet the December unemployment data from the US Bureau of Labor Statistics shows that a disproportionate number of minorities, younger workers, and people without four-year degrees remain unemployed.

This mismatch may seem intractable, but I’m optimistic from my conversations with CEOs that today’s business leaders can close this gap and realize a new era of sustainable and inclusive growth. Here are three steps they can take.

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