McKinsey's crystal ball reveals the world of work in Europe 2030
Europe is a patchwork of local labour markets with striking variations in sector mix, workforce skills, innovation capabilities, and business dynamism. McKinsey has used a mathematical clustering technique to group almost 1,100 local economies across Europe into 13 clusters. These clusters fall into three broad categories.
Forty-eight dynamic cities, including Amsterdam, Copenhagen, London, Madrid, Munich, and Paris, are home to 20% of Europe’s population. They account for more than half of its high-tech patents, three-quarters of its startups, and 83% of its STEM graduates.
By contrast, 438 shrinking regions with 30% of the population, mostly in Eastern and Southern Europe, have declining workforces, older populations, and lower educational attainment. The remaining half of Europe’s population lives in a wide range of largely stable economies.