A new McKinsey Global Institute report finds that if some women do not transition into higher-skilled roles, they could be left further behind. Or even worse face a growing wage gap. In order to adapt to the new world of work, women will need to be skilled, mobile, and tech-savvy.
Technological advances could threaten the jobs of nearly one-fourth of U.S. women in the next ten years as automation, and artificial intelligence reaches into various sectors.
In addition, McKinsey Global Institute estimates that there could be 52% of female job losses could be in areas where women are prevalent. Jobs such as clerical support, healthcare, and social assistance occupations. However, these areas have high automation potential due to their high share of routine cognitive work.
Unfortunately, according to the Bureau of Labor Statistics, black females are dominant in these occupations.
On the positive side, McKinsey Global Institute considers a diverse range of interventions to strengthen a woman’s ability. More importantly, this is to
- leverage technology, including creating pathways for women in tech,
- ease the path to women working in the gig economy, and
- addressing the funding gap for female entrepreneurs.
Though many of the solutions to this issue are external, black female professionals can’t wait for change.