A new report by the World Economic Forum sends shock waves to the job markets.
Jobs are being reshaped by technological advancements and green energy adoption. According to the report, during the course of the next five years, 23% of all jobs are predicted to change, with growth of 10.2% and loss of 12.3%.
Employers estimate that 69 million new jobs will be created during this time, and that 83 million positions could be removed. This means that between now and 2027, 14 million jobs will be lost. This is because global employment across sectors has been severely disrupted by technological improvements and the switch to renewable energy.
In terms of jobs that are at risk, postal service clerks, cashier and ticket office clerks, and data entry staff are all expected to decline by more than a third in the coming five years. While data clerks, administrative and executive secretaries, and accounting, bookkeeping, and patrol clerks are the occupations that combined account for more than half of the total expected job destruction.
The report also emphasizes that business intelligence analysts, sustainability professionals, AI and machine learning experts, and information security specialists will all have the fastest-growing careers in the near future. Significant labor market churn will result from the adoption of new technologies and increased digitization, but there will be a net increase in job creation overall.
