Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Eniola Odetunde/Axios

The pandemic has accelerated a number of future-of-work trends, ones with the potential to displace 100 million workers around the world, according to a new McKinsey Global Institute report.

The big picture: Scores of jobs in retail and hospitality will be gone forever. And while they'll be replaced by new roles in health care, e-commerce and beyond, it won't be easy for droves of workers to reskill and jump into new careers.

McKinsey's analysis examined the ways in which work has changed in China, France, Germany, India, Japan, Spain, the United Kingdom, and the United States and concluded that 100 million workers across those countries may need to find new occupations by 2030.

  • The estimate is 17 million in the U.S. alone, according to Susan Lund, a partner at the McKinsey Global Institute and co-author of the report.

What's happening: In normal times, someone who loses or leaves a job as a host at a restaurant could move to a role as an assistant manager at a clothing store, Lund says.

  • But the pandemic has strengthened the stay-at-home economy for good. More people will work from home, meaning less foot traffic at shops and eateries in big cities. And Americans' increased reliance on grocery delivery and e-commerce will likely stick.
  • That means many of those restaurant, retail and equivalent jobs in the U.S. and other countries will simply disappear.
  • “The long-term effects of the virus may reduce the number of low-wage jobs available, which previously served as a safety net for displaced workers," Lund says. "Given the digitization and the rise in use of technology spurred by the pandemic, those people will need new jobs."

What to watch: Lund projects many of those new jobs will be in higher-skilled fields like health care, technology and human resources.

  • Countries now face the momentous task of training huge portions of their populations. And none of them are adequately prepared.

Go deeper: Switching careers in a pandemic

Go deeper

Feb 17, 2021 - Economy & Business

The perils of prolonged unemployment

Illustration: Eniola Odetunde/Axios

Nearly 4 million Americans have been unemployed for 27 weeks or longer — trapped in a vicious cycle that makes it harder to get back to work.

The big picture: Long-term unemployment during a pandemic is a double whammy. Millions are experiencing food and housing insecurity and lack health care when they need it most.

Cheney: Causes of Jan. 6 riot "will remain a cancer" without investigation

Rep. Liz Cheney (R-Wyo.) on Tuesday called for the "full and open testimony of every person with knowledge of the planning and preparation" of the Jan. 6 Capitol riot, warning that it will "remain a cancer on our constitutional republic" if left uninvestigated.

Why it matters: Despite not being the chair or ranking member, Cheney was asked to deliver an opening statement at the first hearing of the Jan. 6 select committee to show that the investigation will be bipartisan — despite Republican leadership's refusal to participate.

46 mins ago - Sports

Russia wins gold in women's gymnastics, U.S. takes silver

U.S. gymnast Simone Biles. Photo: Marijan Murat/picture alliance via Getty Images

The Russian Olympic Committee is taking home a gold medal in women's gymnastics after U.S. star gymnast Simone Biles pulled out of the team finals on Tuesday due to a medical issue.

State of play: The Russian gymnasts finished with a total score of 169.528, ahead of the U.S. in second place at 166.096. The gold medal won Tuesday is the first for the Russian team since the Unified Team won in Barcelona in 1992, AP notes.