This Is The Hidden Challenge In The Future Of Work

On the heels of a mostly positive jobs report from the Bureau of Labor Statistics (BLS) (4.6% unemployment is the lowest it's been in nine years), the McKinsey Global Institute (MGI) released a more sobering snapshot of the world of work. A briefing by MGI director James Manyika, compiled from the company's extensive research, took a deeper dive into employment numbers. In the United States and the 15 core European Union countries (E.U.-15), there are 285 million adults who are not in the labor force--and at least 100 million of them would like to work more. Some 30% to 45% of the working-age population around the world is underutilized--that is, unemployed, inactive, or underemployed. Manyika says that unemployment figures typically get the most attention at the expense of those who are underemployed.