“One of Ten in U.S. May Have to Switch Occupations Post Pandemic”

One of Ten in U.S. May Have to Switch Occupations Post Pandemic,” by Rich Miller, Bloomberg

 Quote:

“One out of every ten U.S. workers — about 17 million, all told — will likely be forced to leave their jobs and take up new occupations by 2030 as Covid-19’s after-effects destroy huge swathes of low-paying positions in a labor market that was primed for disruption before the pandemic. Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hollowing out of low-wage work in retail, hospitality and other industries.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

No worries. There are plenty of caregiving jobs … at the lowest wages and with the highest danger of any work. But sometime before Social Security and Medicare go bankrupt, the government will impose a new mandatory LTC “insurance” plan that will pay caregivers generously. Or so the analysts tell us. Dream on.