Jobs are set to change quickly in coming years, According to the World Economic Forum, the word that best describes the present is “disruption“
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In the next five years, nearly a quarter of jobs (23%) are expected to change, with a 10.2% growth and a 12.3% decline, according to the report. Employers foresee the creation of 69 million new jobs and the elimination of 83 million, resulting in a net decrease of 14 million jobs, or 2% of the current employment level
Macroeconomic trends like the green transition, ESG standards, and supply chain localization are the primary drivers of employment growth, while economic challenges like high inflation, slow economic growth, and supply shortages pose the greatest threats.
The advancement of technology adoption and growing digitalization will bring significant changes to the labor market, with a net positive outcome in job creation. More than three-quarters of the 803 companies surveyed for the report plan to adopt big data technologies, cloud computing, and AI in the next five years.
Green Energy and Sustainability Specialists
Green Energy and Sustainability Specialists in autonomous and electric vehicles are highly sought after, leading the list of most in-demand jobs for 2023, with projected growth of over 40% in the next five years. Close behind, AI and machine learning specialists may see slightly lower job growth, followed by environmental protection professionals, with an expected 35% increase over the same period. Sustainability specialists, fintech engineers, and various analyst roles—including business, information security, and data analysts—along with data scientists, will each see growth rates of over 30%.
While the digital revolution is a catalyst for some of the fastest-growing occupations, many non-technological roles are also expected to see significant increases in total jobs created.
Heavy truck and bus drivers, vocational education teachers, and machinery mechanics and repairers will see approximately 2 million new jobs each between 2023 and 2027, representing some of the fastest absolute growth rates of any occupation.
Decline in Cashier Jobs Online banking has led to the closure of many physical bank branches, meaning teller positions are projected to decline by an estimated 40% by the end of the decade—the fastest decline of all jobs. Similarly, the growing influence of automation, sensor technologies, and online services is reducing the need for postal service workers, cashiers, ticket sellers, and data entry staff. Each of these occupations is expected to shrink by more than a third over the next five years.
Regarding the largest job losses in absolute terms, data entry clerks are the hardest hit, with an expected loss of 8 million jobs in five years, followed by administrative and executive secretaries, and accounting, bookkeeping, and payroll clerks. Together, these three occupations account for more than half of the total job destruction forecasted, according to the Future of Jobs 2023 report.
A Greener Job Future
A green recovery scenario could generate around 3.5% additional global GDP growth and a net job gain of 9 million new jobs annually, according to the International Energy Agency.
The green transition could create 30 million jobs worldwide in clean energy, efficiency, and low-emission technologies by 2030. However, despite continuous growth in green jobs over the past four years, reskilling and upskilling towards green competencies are not keeping pace.
“For people around the world, the past three years have been filled with turmoil and uncertainty for their lives and livelihoods, with COVID-19, geopolitical and economic shifts, and the rapid advance of AI and other technologies now adding more uncertainty,” said Saadia Zahidi, Managing Director of the World Economic Forum.
“The good news is that there is a clear path to ensure resilience. Governments and businesses must invest in supporting the shift towards the jobs of the future through education, reskilling, and social support structures that can ensure people are at the center of the future of work.”