Labour market 'churn' ahead with a quarter of jobs changing by 2027: survey

AROUND a quarter of jobs are set to change in the next five years, according to a survey of employers published on Monday (May 1) by the World Economic Forum (WEF), the organisation known for its annual meeting in Davos, Switzerland.

Some 69 million jobs will be created and 83 million eliminated by 2027, it said, resulting in a net decrease of 2 per cent of current employment, according to the Future of Jobs report.

The survey is based on input from some 800 companies employing more than 11 million workers and uses a dataset of 673 million jobs.

Technology and digitalisation is both the driver of job creation and of destruction, a summary of the report said.

“Advancing technology adoption and increasing digitisation will cause significant labour market churn,” it said.

The fastest declining roles will be secretarial and clerical roles such as bank tellers and cashiers which can be automated, while demand for AI (artificial intelligence) machine learning specialists and cybersecurity experts is expected to grow significantly, it said. REUTERS