What will happen to the global labor market in the next five years?
Experts from the World Economic Forum have compiled a list of the top trends that will form the global labor market over the next five years. Some of these changes will occur due to the pandemic's wake, but, particularly, the technological advances have already triggered the majority of trends.
The automation of production is happening much faster than has been expected. And this process has only accelerated in the face of the pandemic. As a result, 85 million workers will lose their jobs. In 2026, work is expected to be divided roughly equally between humans and machines.
2. "Robot Revolution"
Experts predict that 97 million new job positions will be simultaneously created in the global labor market due to the "robot revolution." Most of them, respectively, will be linked with artificial intelligence. Many new positions will also be in the administration and social media spheres. Other areas where job searches can expect to find a job include the green economy, services, marketing, sales, and engineering.
3. Analytical thinking, creativity and flexibility
These are the three qualities that will be in great demand in the next five years through employers. In addition, according to experts, job seekers will not hurt such soft skills as stress management, tolerance and trainability.
Nearly half of all workers in the world will need to take various continuing education courses and retraining programs. The most competitive companies will focus their efforts precisely on the additional education of employees.
About 84 percent of employers will transfer some of their staff to remote work in five years. We mean about 44 percent of the workforce. Nevertheless, some executives consider this could have a negative impact on efficiency and will take time for officials to adjust to the new environment.