McKinsey Forecasts 11M Job Shifts

McKinsey is facing a perfect storm: AI is set to disrupt 11 million U.S. careers by 2035, clean energy costs are being jolted by tariffs and mineral bottlenecks, and legal scrutiny is intensifying after Belgian authorities seized €65 million in a French tax investigation. The firm’s latest research reframes the AI jobs conversation, shifting the narrative from job loss panic to a “mobility challenge” — but that means millions of workers will need new skills and perhaps entirely new careers, with lower-wage earners hit the hardest. McKinsey itself is leaning into the shift, hiring thousands of engineers and data scientists, yet the big question remains: can they convince clients to pay consulting rates for AI talent as demand signals wobble and job postings decline across the industry?

But there’s a catch. As McKinsey ramps up its build-and-run AI services, it faces a double squeeze: clean-tech projects are battling rising battery and solar costs thanks to tariffs and supply chain friction, and its own utilization risk grows if government RFPs stall amid legal headwinds. Energy clients are now making location, contract, and supply decisions far more strategic, while corporates must navigate a fragmented global landscape. Meanwhile, McKinsey’s big regional bets—like appointing Tarek El Sayed to lead Middle East energy transformation—signal a push to turn expertise into multi-year, outcome-based deals before public sector procurement slows further. The clock is ticking to see if the firm can outpace rivals and capitalize on the coming wave of AI and energy transformation.

Based on reporting from Business Insider, pv magazine USA, and Reuters.

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