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On Labor Day, the World Economic Forum (WEF) examines the future of work with a survey. By 2027, 69 million new jobs will be created worldwide and 83 million existing jobs will be eliminated at the same time. As a result, there are minus 14 million jobs, which is 2 percent of all global jobs.
And above all, job descriptions are changing. The study estimates that 23 percent of all jobs will change over the next five years. According to the research, the main drivers of changes in the labor market are climate change and artificial intelligence (AI). Anyone with expertise in these areas will benefit from the change. On the other hand, those who work in repetitive jobs will be less in demand.
profiteers
Experts in artificial intelligence, sustainability and IT security are in good hands, according to WEF’s research. There are many new business opportunities, especially in the online retail space. The demand for architects and engineers is increasing, especially in the field of renewable energy. This includes solar systems engineers.
In absolute numbers, however, the other two sectors are experiencing the largest employment growth: education and agriculture. In education, the WEF expects 10 percent growth with 3 million additional jobs in vocational education, universities and other higher education institutions worldwide.
In agriculture, the study’s authors even predict employment growth of 15 to 30 percent. This corresponds to 4 million new jobs worldwide. Persons trained in operating agricultural machinery will be particularly sought after here.
Disadvantageous
The biggest losses occur where technology and digitalization replace workers. The decline will most likely be in classic administrative functions. Among other things, the WEF cites bank tellers, cashiers, and secretarial workers as those with the most bleak job prospects.
Even as more jobs have been laid off than have been created in the past five years, according to the WEF study, the study’s authors warn that shortages of skilled workers are on the rise. It is also due to the fact that the workforce does not have the necessary skills for the changing labor market. According to the research, by 2027, six out of ten workers will need to be trained to meet the latest labor market needs.
Forecast for Switzerland
The jobs report also provides forecasts for the Swiss labor market. The study concludes that the energy transition in Switzerland has become an even bigger business engine than in other countries. Cyber security will also contribute to the creation of above-average employment in this country. According to the study, online commerce has less impact on employment growth than elsewhere in Germany.
According to the survey, accountants and auditors, as well as lawyers in Switzerland, have to be prepared for a particularly large number of changes in their professional fields. This does not necessarily mean that their business will disappear – but that they will be characterized by a particularly large number of changes over the next five years.
For the study, WEF surveyed 803 companies worldwide, employing a total of 11.3 million people in 45 countries and 27 different industries.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
