The 163-page report highlighted today from the World Economic Forum was published last October when the pandemic was in full swing so it probably requires no updating. If anything some of the trends may have intensified?
It covers 15-industries and sectors and provides (after P.49) in-depth analysis on trends in 26-advanced and emerging countries. I’ll summarize main points below but before that I’ve extracted two tables that are probably what most want to know?
First, what skills are increasing, and decreasing in demand:
Second, what are the top skills an employee will need in 2025?
Here’s the summary and at the bottom a link to the research in full.
Main points:
- Technology adoption will continue and, in some areas, accelerate
- Automation is creating ‘double-disruption’ when added to the effects of Covid
- By 2025 time spent on work by humans and machines will be equal
- Jobs destroyed will be surpassed by jobs created. 85-m will go but 97m will be created by 2025
- Skill gaps are presently high but a lot can be done with on the job training
- The ‘future of work’ has arrived for white-collar online workers [My bold]
- Inequality will be exacerbated by the dual impact of technology and recession in many countries
- 66% of employers who re-train staff expect such workers to be paying back the investment within a year
- Companies, where possible, are seeking to redeploy displaced workers. This could take care of 50% of those affected
- The public sector needs to do more than simply fling money at pandemic affected workers. Longer term assistance programs must be considered
You’ll find a 2-page China specific analysis from P.76 and the full report at WEF The Future of Jobs – Full Report
Happy Sunday.