McKinsey: 4.1 Million jobs to be affected by outsourcing come 2008
McKinsey Global Institute released its report during a Washington forum at the Institute for International Economics predicting the number of service jobs outsourced would continue to rise, reaching a staggering 4.1 million by 2008.
The report authors also assure that workers from developed countries would hardly feel the impact of the outsourcing of jobs as only a small percentage of the workforce would be affected.
The McKinsey report points out, "Labor markets in developed economies are experiencing and will continue to experience the trend toward offshoring as a slow, evolutionary change." It goes on to add, "It will have less impact on patterns of employment than the decline in manufacturing employment developed economies have experienced recently."
Estimates on the number of service jobs outsourced to developing countries stood at 1.5 million by the end of 2003. This represents only a fraction of the “potential” 160 million jobs which "could be done by people located anywhere in the world". This represents about 11% of the global service workforce.
related stories, by category:
