The Future of Work

The report was originally posted by The World Economic Forum and can be found here.

The Future of Jobs Report 2023 by the World Economic Forum sheds light on the fastest-growing and declining jobs globally. According to the report, over the next five years, AI and sustainability will experience a surge in demand, while bank tellers’ and postal workers’ demand will decline. The report also predicts that while new technologies will create 69 million new jobs, 83 million jobs will be lost, resulting in a net loss of 14 million jobs worldwide, or 2% of the global workforce.

While this may sound daunting, the report suggests that it’s not all bad news, especially for those who enter or pivot into the right sectors. Sustainability is projected to be a big winner, with growth expected in sectors that require green jobs and skills, from specialists in sustainability to those working on green energy production, renewable energy sources, renewable energy engineers, and solar energy installation. These are all areas that are likely to grow in line with the types of investments governments are making and the incentives they’re creating for companies to invest in these areas.

When it comes to the fastest-growing jobs, AI and machine learning are at the top of the list, with analyst and engineering roles making up most of the top 10. Agriculture is also strongly in the mix, with agriculture equipment operators, graders, and sorters expected to see a 15 to 30% increase, leading to about an additional 4 million jobs.

It’s not all good news, unfortunately. Job decline will also be felt across roles that are automated, operate largely online, or are beginning to be handled by generative AI. Bank tellers, postal clerks, data entry clerks, administrative executive assistants and material-recording and stock-keeping clerks top the list of fastest declining jobs.

So, what does this mean for job seekers?

It means that those who are prepared for the future will be in a much better position to take advantage of the growth in demand for AI and sustainability-related jobs. At Career Money Life, we believe that the future of work requires a different set of skills than in the past. The WEF Future of Work skills include complex problem-solving, critical thinking, creativity, emotional intelligence, and cognitive flexibility. These skills are in high demand and are essential for future-proofing your career.

As the job market changes, it’s important to be proactive and prepare for the jobs of the future. Consider upskilling or reskilling in fields related to sustainability, AI, and agriculture. This will put you in a strong position to take advantage of the jobs that will be in demand over the next few years. At Career Money Life, we offer personalized career coaching and outplacement services to support individuals during career changes. Our candidate care services, such as interview coaching, resume writing, and job search strategies, can help you build the necessary skills to succeed in the job market of the future.

In conclusion, the future of work is changing rapidly, and it’s up to us to adapt to the changing job market. While some jobs may decline, others will experience growth. By staying ahead of the curve and building the skills necessary for the jobs of the future, you can position yourself for success. At Career Money Life, we’re here to help you navigate these changes and achieve your career goals.