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!

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.

2 hours ago - World

U.S. drone strike victims' families in Afghanistan seek compensation

A relative of Ezmarai Ahmadi, who was killed by a U.S. drone strike, looks at the wreckage of a vehicle that was damaged in the strike in the Kwaja Burga neighbourhood of Kabul on Saturday. Photo: Hoshang Hashimi AFP via Getty Images

Relatives of 10 Afghans killed by a U.S. drone strike in Kabul last month said Saturday they want to see punishment and compensation over the deaths.

Driving the news: The relatives said it's "good news" that the U.S. had "officially admitted" that "they had attacked innocents" in the Aug. 29 strike that killed Zamarai Ahmadi, an aid worker with a U.S.-based group, and nine family members, but they still need "justice," per AFP.

Miriam Kramer, author of Space
6 hours ago - Science

All-civilian Inspiration4 is back on Earth after flight to space

A side-by-side of the Inspiration4 crew and a shot of their capsule on the way back to Earth. Photo: SpaceX

The all-civilian Inspiration4 crew is back on Earth after their three-day mission in orbit.

The big picture: The launch and landing of this fully amateur, private space crew marks a changing of the guard from spaceflight being a largely government-led venture to being under the purview of private companies.