17 crore jobs will increase in five years, 9.2 crore jobs will be lost, read which sectors will be affected?

WEF Report: In the coming years, there will be a significant impact of technology on jobs. Global economic uncertainty, green transformation and demographic change will also have an impact on jobs. According to the World Economic Forum report, 17 crore job opportunities will increase in five years. 9.2 crore jobs will be lost. The intervention of the digital revolution will have an impact on jobs. By 2030, 22 percent of jobs will be affected globally.

Highlight

• The biggest impact of the intervention of the digital revolution.
• 22 percent of jobs will be affected globally by the year 2030.

All the countries of the world are grappling with the crisis of skilled and competent workforce and meanwhile the employment market is ready to take a new turn.

Undoubtedly, Artificial Intelligence (AI) is the center of most discussion and concern these days, but the report released by the World Economic Forum (WEF) along with the data of the World Labor Organization (ILO) says that many other factors along with technological intervention are going to affect the world labor market on a large scale.

This report has predicted that from the year 2025 to 2030, i.e. in the next five years, 22 percent of the total jobs in the world will be affected from the current job perspective. Out of these, 17 crore new opportunities will be created, while 9.2 crore jobs are estimated to be lost. Despite this, a net increase of seven percent in employment is estimated.

Many changes will come by 2030

• Discussions have begun in Davos on the platform of the World Economic Forum on various aspects of industry, investment, employment and skill development. Meanwhile, WEF’s latest report ‘Future of Jobs Report-2025’ is drawing attention to the possible changes and challenges in the global labour market.
• In this report, five factors have been mainly mentioned for the projected changes in the world labour market by the year 2030.These include technological change, global economic uncertainty, demographic change, green transition and geo-economic challenges.
• Experts have believed that digital access in work can prove to be the biggest change-maker.60 per cent of employers expect that it will transform their business by 2030.
• This will especially involve the role of AI, information technology, robotics, automotive etc.
• These are expected to have different impacts on jobs. The rising cost of living is considered to be the second most transformative factor overall.

42% of business will change by 2030

50 percent of employers expect it to transform their business by 2030, despite the projected reduction in global inflation. 42 percent of businesses expect it to transform. The outlook for net job creation due to inflation is mixed, while slower economic growth is expected to lead to the loss of 1.6 million jobs globally.

Climate change will also be the reason for change in business

41 percent of employers expect business changes due to climate change. This will increase the demand for roles such as renewable energy engineers, environmental engineers and electric and autonomous vehicle specialists. Similarly, the report says that two demographic changes are rapidly changing global economies and labor markets.

What is the estimate regarding work and age?

Aging and declining working-age populations are primarily seen in high-income economies, while growth in working-age populations is primarily seen in lower-income economies.

Aging populations will drive growth in healthcare jobs such as nursing professionals, while growth in working-age populations may spur growth in education-related occupations such as higher education teachers. Similarly, geo-economic challenges will also have their impact

Fastest growing employment sector

• Big Data Specialist
• FinTech Engineer
• AI and Machine Learning Specialist
• software and Application Developer
• security Management
• Specialist Data
• Warehousing
• Specialist Autonomous and Electric Vehicle
• Specialist UI and UX Designer
• Light Truck and Delivery Service Drivers data Analyst and Scientist
• Environmental Engineer
• Information Security Analyst
• DevOps Engineer
• Renewable Energy Engineer

Rapidly declining employment sectors

• Postal service clerks
• Bank tellers and related clerks
• Data entry clerks
• Cashiers and ticket clerks
• Administrative assistants and executive secretaries
• Employees in printing and related businesses
• Material, recording and stock-keeping clerks
• Transportation attendants and conductors
• Door-to-door sales service workers
• Street vendors
• Graphic designers
• Claims adjusters
• Examiners and investigators
• Legal officials
• Legal secretaries
• Telemarketers

These are also expected to increase

According to the report, frontline job roles will see the highest growth. These include farmworkers, delivery drivers, construction workers, salespeople, food processing workers, nursing professionals, social service, counseling professionals, personal care aids.