US economic mobility outlook hinges on financial security, skills and stronger community support: McKinsey

New Delhi, [India] August 16 (ANI): Economic mobility in the US is likely to depend increasingly on how effectively individuals, businesses and institutions respond to changing labour markets, rising living costs and the impact of artificial intelligence, according to a McKinsey report.

The report calls for greater investment in skills-based pathways, stronger financial security and closer collaboration between institutions and communities to improve Americans' prospects for upward mobility.

The report, based on a survey of more than 30,000 adults across all 50 states conducted in April 2026, found that Americans broadly aspire to financial security, good health, meaningful work, strong families and greater control over their futures. However, the barriers to achieving these goals vary significantly across different stages of life.

McKinsey said policymakers, employers and community institutions will need to respond to these differences through targeted interventions. In particular, adaptable, skills-based pathways could become increasingly important as AI changes the nature of work. While many human skills are expected to remain relevant, their application is likely to evolve, making apprenticeships, earn-and-learn programmes and AI-related training more valuable.

The research found that young adults face significant uncertainty as they enter the workforce, with concerns around unemployment, job losses and gaps in skills and training. At the same time, they remain relatively optimistic about their future compared with older respondents. Mental health was cited as the top barrier to progress by 34 per cent of young adults, more than twice the share among older adults.

For Americans approaching retirement, the priorities shift towards financial security and health. The share of respondents identifying saving for the future as a top aspiration rises by nearly 20 percentage points between the 35-44 and 55-64 age groups. Yet only 37 per cent of respondents aged 55-64 said their life had momentum and that they were making significant progress towards their goals, compared with 43 per cent overall.

The report also highlighted a disconnect between personal agency and community engagement. While 67 per cent of respondents said they had a say in the direction of their lives, only 35 per cent felt they had a meaningful say in decisions affecting their local communities.

McKinsey said strengthening community connections, expanding access to opportunities and ensuring people have a greater voice in local decisions could help build trust while improving economic mobility. (ANI)

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