Are you keeping up with the job and skill trends? World Economic Forum's report shows the job growth and churn areas.

The World Economic Forum published the Future of Job report 2023. The report is based on the survey from 803 companies employing over 11.3 million workers across 27 industry clusters and 45 economies worldwide. It explores macrotrends, technology trends, their impact on jobs and skills, and workforce transformation strategies for the period between 2023 and 2027.

The report shows that the environmental, technological, and economic trends have the largest effects on job creation and destruction. Investments facilitating the green transition, broader application of ESG standards, localized supply chains, climate change adaptation, and demographic dividends in developing and emerging economies are expected to create net job growth. Among technology adoption, big data, cloud computing, and AI are highly likely to be adopted by companies in the next five years. Digital platforms, apps, e-commerce, and digital trade are also expected to see widespread adoption.

Employers anticipate a structural labor market churn of 23% of jobs in the next five years, with certain industries experiencing higher churn rates. Automation is being introduced at a slower pace than previously anticipated, with machines currently performing 34% of business-related tasks, while humans handle 66%. Employers expect a more significant impact on automating tasks related to reasoning, communication, coordination, and artificial intelligence.

The top 10 job growth areas are below, most of them are in Technology space.

• AI and Machine Learning Specialists
• Sustainability Specialists
• Business Intelligence Analysts
• Information Security Analysts
• FinTech Engineers
• Data Analysts and Scientists
• Robotics Engineers
• Big Data Specialists
• Agricultural Equipment Operators
• Digital Transformation Specialists

The largest job declining areas are

• Bank Tellers and Related Clerks
• Postal Service Clerks
• Cashiers and Ticket Clerks
• Data Entry Clerks
• Administrative and Executive Secretaries
• Material-Recording and Stock-Keeping Clerks
• Accounting, Bookkeeping and Payroll Clerks
• Home Appliance Installers and Repairers
• Legislators and Officials
• Statistical, Finance and Insurance Clerks

In-demand skills: % of organizations surveyed which consider skills to be increasing:

• Creative thinking 73.2%
• Analytical thinking 71.6%
• Technological literacy 67.7%
• Curiosity and lifelong learning 66.8%
• Resilience, flexibility and agility 65.8%
• Systems thinking 59.9%
• AI and big data 59.5% 
• Motivation and self-awareness 58.9%
• Talent management 56.4%
• Service orientation and customer service 54.8%

The report emphasizes the significant impacts of job and skill transformations on businesses, governments, and workers worldwide. It highlights the importance of developing insight forecasts, identifying appropriate talent, and making informed decisions to manage disruptions to jobs and skills.

Source: The Future of Job report 2023, World Economic Forum.