Know The Fastest Growing And Declining Jobs In The Next 5 Years

Disruption best describes what has been occurring in the job sector internationally, particularly after the post-pandemic situation. The digital revolution, efforts to reduce carbon emissions in the face of an imminent climate crisis, and other geopolitical and societal shifts are continually reshaping the global labour market. According to reports, 1.4 crore jobs are at risk in the next five years because of several economical factors. Additionally, recent information from the Future of Jobs Report 2023 of the World Economic Forum has provided a preview of what both employers and employees can anticipate, five years from now.

According to the published report, it is estimated that 69 million job opportunities will be added, whereas 83 million others will cease to exist, for a total reduction of 14 million jobs. The top 10 jobs that would have the fastest growth and decline between 2023 and 2027 are also highlighted in the report.

Here is a list of the 10 fastest growing jobs in the following 5 years

Al and Machine Learning Specialists

Sustainability Specialists

Business Intelligence Analysts

Information Security Analysts

Fintech Engineers

Data Analysts and Scientists

Robotics Engineers

Electrotechnology Engineers

Agricultural Equipment Operators

Digital Transformation Specialists

Here is a list of the 10 rapidly declining jobs in the following five years

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

Legislators and Officials

Statistical, Finance, and Insurance Clerks

Door-to-Door Sales Workers, News and Street Vendors, and Related Workers

Job opportunities are likely to increase if the world heads towards renewable energy systems. In the next five years, cloud computing, big data, and AI innovations are expected to be adopted by more than three-quarters of the 803 firms polled for the report. There are also chances for a surge of green jobs across various industries and job sectors.

According to figures from the International Energy Agency included in the WEF report, a green recovery scenario could result in an annual net employment boost of 9 million fresh jobs and an increase in the global GDP of about 3.5%. The WEF report also suggests that 34 percent of work is currently conducted via machines. But, the deployment of Artificial Intelligence will both have its share of advantages and disadvantages.

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