Future of Jobs Report 2023: Up to a Quarter of Jobs Expected to Change in Next Five Years
- Some 23% of jobs are expected to change by 2027, with 69 million new jobs created and 83 million eliminated
- New report suggests green transition and localization of supply chains will lead to net job growth
- Adoption of technology and increased digital access will also create net job growth but with greater offsets from losses; slower economic growth, supply shortages and inflation pose the greatest risks to jobs
- Fastest-growing jobs are AI and machine learning specialists, sustainability specialists, business intelligence analysts and information security specialists; largest absolute growth is expected in education, agriculture and digital commerce.
The Future of Jobs Report 2023 suggests that almost a quarter of jobs (23%) are expected to change in the next five years through growth of 10.2% and decline of 12.3%. According to the estimates of the 803 companies surveyed for the report, employers anticipate 69 million new jobs to be created and 83 million eliminated among the 673 million jobs corresponding to the dataset, a net decrease of 14 million jobs, or 2% of current employment.
Macrotrends, including the green transition, ESG standards and localization of supply chains, are the leading drivers of job growth, with economic challenges including high inflation, slower economic growth and supply shortages posing the greatest threat. Advancing technology adoption and increasing digitization will cause significant labour market churn, with an overall net positive in job creation.
“For people around the world, the past three years have been filled with upheaval and uncertainty for their lives and livelihoods, with COVID-19, geopolitical and economic shifts, and the rapid advancement of AI and other technologies now risks adding more uncertainty,” said Saadia Zahidi, Managing Director, World Economic Forum. “The good news is that there is a clear way forward to ensure resilience. Governments and businesses must invest in supporting the shift to the jobs of the future through the education, reskilling and social support structures that can ensure individuals are at the heart of the future of work.”