manish gupta
If the once-in-a-century pandemic and automation create a “double-disruption scenario” for workers at the beginning of the current decade, the global shift in occupations will continue inexorably over the next five years, with a downward trend. will be in in net job creation, according to a new report.
The World Economic Forum’s Future of Jobs Report 2023 said on Sunday that almost a quarter of global jobs are likely to “change” over the next five years, with 69 million new jobs created and 83 million lost. said.
While the transition to the environment and the localization of supply chains will lead to an increase in employment over the period 2023-2027, the labor market disruption caused by increased technology and digital access will in itself reduce the number of jobs gained. “It will be a net positive,” the report said. Survey of 803 companies.
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This suggests that near-term unemployment is due to factors other than technology, contrary to popular belief.
Implicit in this projection is that macroeconomic developments, including an impending slowdown in growth, will lead to job creation over the medium term, in addition to a more than necessary pace of improvement in skill sets to meet employer needs. It means suppressing. Ironically, while job growth has stagnated and the labor market is nearly tight, employers are also reporting labor shortages. Analysts expect the deficit to continue for many more years.
As such, the WEF report underscores the “growing urgency of a reskilling revolution”, stating that 44% of individual workers’ skills will need to be reskilled for sustained employability. I’m guessing.
Among the sectors, digital commerce will lead to the largest absolute increase in employment, with around 2 million new digitally-enabled roles expected. The absolute increase in employment is also higher in education and agriculture.
Job turnover in India is seen to be broadly in line with global trends, with 22% of employers expected to switch jobs in the country compared to the global average of 23%.
Business India is optimistic about its ability to create or retain jobs. According to a WEF report, 61% of Indian companies believe the broader application of his ESG criteria will boost employment growth, followed by increased adoption of new technologies (59%) and greater digital access (59%). 55%) followed.
Importantly, the fastest growing jobs are artificial intelligence (AI) and machine learning (ML) specialists, sustainability specialists, business intelligence analysts, and information security specialists. Companies surveyed want to make addressing the skills gap a top priority. In analytical and creative thinking. While AI/ML is spreading its wings, strong cognitive skills are increasingly valued by employers.
In India, along with data analysts and scientists, AI and ML professionals will also play a key role in transforming the industry.
“Macrotrends such as green transitions, ESG standards and supply chain localization are major drivers of job growth, while economic challenges such as high inflation, slowing economic growth and supply shortages pose the greatest threats. “The increasing adoption of technology and increasing digitization will lead to significant labor market disruptions and overall net job creation,” the report said.
Importantly, potential employers report that skills gaps and an inability to attract talent are the main barriers to change. Six out of 10 workers will need to receive her training by 2027, yet only half of the workforce currently have access to adequate training opportunities.
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WEF Managing Director Saadia Zahidi said: Governments and businesses must invest in supporting the transition to the jobs of the future through education, retraining and social support structures that can ensure individuals are at the heart of the jobs of the future. ”
In its 2020 Future of Work report, which saw the world face the pandemic, the WEF found that 43% of the companies surveyed are ready to reduce their workforce through technology consolidation, with a In other words, humans and machines spend an equal amount of time on the current task at hand.
