SINGAPORE – Millions of jobs will be wiped out by 2027 and the rate of creation of new jobs will be far lower than those eliminated.
This was the grim conclusion of the World Economic Forums (WEF) The Future of Jobs Report 2023, released on Monday. It comes amid concerns of a looming economic recession and persistent inflation.
Nearly a quarter of jobs will change by 2027, with about 69 million new jobs being created and 83 million to be eliminated, it said. This would mean a net decrease of 14 million jobs or 2 per cent of current employment.
Increasing digitalisation, adoption of new technologies, transition to a green economy, localisation of supply chains and slower economic growth are driving the change.
The findings are based on a survey of 803 companies that employ 11.3 million people in 45 economies around the world.
The most-in-demand jobs at the moment for the coming years are artificial intelligence (AI) and machine learning specialists, sustainability specialists, business intelligence analysts and information security specialists.
Jobs that will decline the fastest include clerical or secretarial roles, among them those of bank tellers, cashiers and data entry clerks.
The human-machine frontier is shifting to a new terrain, said Ms Saadia Zahidi, managing director at the WEF, acknowledging that technology is creating the structural churn.
While expectations of the displacement of physical and manual work by machines has decreased, tasks requiring reasoning, communicating and coordinating all traits with a comparative advantage for humans are expected to be more automatable in the future, she noted in an op-ed to mark the release of the Jobs Report 2023.
Generative AI is expected to be adopted by nearly 75 per cent of surveyed companies and will be second only to humanoid and industrial robots in terms of inflicting job losses, she said.
The WEFs report points out that the employment of data analysts and scientists, big data specialists, AI machine learning specialists and cyber-security professionals is expected to grow on average by 30 per cent by 2027.
Concurring with the reports findings, LinkedIns Ms Suzanne Duke, who heads the global public policy and economic graph team at the firm, said digital and green jobs have been the most in-demand in recent years.
There has been a 50 per cent surge in jobs mentioning GPT in the past 12 months, she said during a virtual briefing session by the WEF on the reports findings on Tuesday. GPT, or Generative Pre-trained Transformer, is a language model system that uses deep learning to produce human-like text.
Ms Zahidi and Ms Duke agreed that the emphasis on green jobs is bound to grow.
Roles from renewable energy engineers, solar energy installation and systems engineers to sustainability specialists and environmental protection professionals will be in high demand, translating to growth of approximately one million jobs, Ms Zahidi said in her op-ed. More On This Topic Singapore can expect lower job market churn from 2023-2027: WEF expert askST Jobs: How to flourish after youve been redeployed The WEFs Job Report 2023 said, however, that the largest absolute gains in jobs will be in the education and agriculture sectors.
Jobs in the education industry are expected to grow by about 10 per cent, leading to three million additional jobs for vocational and higher education teachers.
Jobs for agricultural professionals will see a 15 per cent to 30 per cent increase, leading to an additional four million jobs.
While disruption will be across the globe, the new economic geography created by shifting supply chains and a greater focus on resilience over efficiency is expected to create net job growth, with wins for economies in Asia and the Middle East especially, said Ms Zahidi.
In terms of skills upgrades, the Jobs Report estimates that on average, 44 per cent of an individual workers skills will need to be updated.
Strong cognitive skills are increasingly valued by employers, reflecting the growing importance of complex problem-solving in the workplace, said the report.
Analytical thinking and creative thinking will be the most valued skills in 2023, and remain so for the next five years.
Faster reskilling will be necessary, said Mr Shravan Goli, chief operating officer at Coursera, an open online course provider at the virtual briefing.
The companys research showed that individuals without degrees could acquire critical skills in a similar timeframe to those with degrees.
Given this reality, companies could opt for more skills-based hiring to tackle skills gaps and talent shortages, he said. More On This Topic Singapore still has archaic ideas about skills-based jobs, says President Halimah askST Jobs: How to choose the best training pathway Top 10 fastest growing jobs*
1. AI and Machine Learning Specialists
2. Sustainability Specialists
3. Business Intelligence Analysts
4. Information Security Analysts
5. Fintech Engineers
6. Data Analysts and Scientists
7. Robotics Engineers
8. Big Data Specialists
9. Agricultural Equipment Operators
10. Digital Transformation Specialists
*The jobs that survey respondents expect will grow most quickly from 2023 to 2027, as a fraction of present employment figures. Top 10 skills of 2023**
1. Analytical thinking
2. Creative thinking
3. Resilience, flexibility and agility
4. Motivation and self-awareness
5. Curiosity and lifelong learning
6. Technological literacy
7. Dependability and attention to detail
8. Empathy and active listening
9. Leadership and social influence
10. Quality control
**The skills judged to be of greatest importance to workers at the time of survey. Source: World Economic Forum, Future of Jobs Report 2023 More On This Topic First real-world study shows generative AI boosted worker productivity by 14% Singapore salary guide 2022: Is your pay competitive?
A new study has linked an unexplained LHAASO detection to a pulsar-powered X-ray nebula, confirming it as a rare PeVatron capable of accelerating particles to extreme energies. The discovery is a major step toward solving the long-standing mystery of galactic cosmic rays. Researchers are now combining X-ray, gamma-ray and neutrino observations to trace these powerful …
Airline passengers have been warned of potential travel disruption after Airbus identified a “significant number” A320 planes impacted by a software issue.
In a statement, the plane maker said: “Analysis of a recent event involving an A320 Family aircraft has revealed that intense solar radiation may corrupt data critical to the functioning of flight controls.
“Airbus has consequently identified a significant number of A320 Family aircraft currently in-service which may be impacted.”
Image: File pic: iStock
It is understood the incident that triggered an unexpected repair involved a JetBlue flight from Cancun, Mexico, to Newark, New Jersey, on 30 October, which suffered a sharp loss of altitude which injured several passengers.
An Airbus spokesperson told Sky News the necessary software change would affect up to 6,000 planes.
They added that for most of the affected aircraft, the required software update would take 2-3 hours. However, some aircrafts would need new hardware to be able to adopt the required software and that those aircraft would be affected for longer.
Travel expert, Simon Calder, said the situation was “very concerning” but that he had full faith in the safety procedures of Airbus and airlines. He went on to say that “aviation remains extraordinarily safe.”
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However, he warned that customers may not be entitled to cash compensation if affected by delays, as the issue would be considered out of the control of airlines.
EasyJet, British Airways, Aer Lingus, Lufthansa, American Airlines, Delta and Wizz Air are all affected by the issue.
Airbus told Sky News that it had proactively asked the European Union Aviation Safety Agency (EASA) to issue an air worthiness directive for the affected aircraft.
The issue is affecting A319, A320 and the A321 models. The company said the issue is only affecting A320s that are in service, not aircraft that are due to be delivered.
The UK Civil Aviation Authority said it is likely to mean some disruption and cancellation to flights.
Image: Airbus requested that EASA issue an air worthiness directive. Pic: Reuters
Some airlines will be more affected than others, Colombian airline Avianca has announced that it will close ticket sales for 10 days due to the issue.
In a statement, easyJet said: “As we are expecting this to result in some disruption, we will inform customers directly about any changes to our flying programme tomorrow and will do all possible to minimise the impact.”
American Airlines said the Airbus software issue would impact 340 aircraft and it expects some operational delays due to a major software change requirement.
The airline added that it expects the vast majority of the updates to be completed by “today or tomorrow”, and that they are “intently focused” on limiting cancellations.
Wizz Air said some of its flights over the weekend may be affected, while Air India said the issue could lead to delays.
Indigo, an Indian airline which operates over 150 A320s, said it was proactively completing mandated updates on the affected aircraft.
British Airways told Sky News that only three of its aircraft where affected and that the required fixes will be carried out overnight and are not expected to disrupt its operations.
Aer Lingus is in a similar position, with a limited number of aircraft impacted. The Airline doesn’t expect there to be significant operational disruption, but is taking “immediate steps to complete the required software installations”.
In October, the Airbus A320 family broke a major milestone when it overtook Boeing’s 737 to become the most-delivered jetliner in history.
This breaking news story is being updated and more details will be published shortly.
Famous names affected by prostate cancer have spoken of their disappointment after mass screening for the illness was not recommended for use on the NHS.
The National Screening Committee (NSC), comprised of doctors and economists, told the government that screening is “likely to cause more harm than good”.
Its decision means the NHS is unlikely to offer mass screening for men over the age of 45.
Six-time Olympic gold-medallist Sir Chris Hoy, former Prime Minister David Cameron, Sir Stephen Fry, actor and author Tony Robinson and journalist Dermot Murnaghan, who have all been diagnosed with the disease, spoke out after today’s decision.
Image: David Cameron, Dermot Murnaghan and Sir Chris Hoy were among those who spoke out. Pic: PA/Shutterstock/AP
In a draft recommendation, the committee said the reason it was “not recommending whole population screening using the prostate specific antigen (PSA) test was that it was likely to cause more harm than good”.
Instead, it proposes a targeted screening programme every two years for men with specific genetic mutations, known as BRCA-1 and BRCA-2, between the ages of 45 and 61.
But Sir Chris, who confirmed last year that his prostate cancer diagnosis was terminal, with doctors giving him two to four years to live, criticised the move.
The former Team GB cyclist, who confirmed in February 2024 that he was undergoing treatment, said: “I am extremely disappointed and saddened by the recommendation announced by the National Screening Committee today to rule against national screening for men at high risk of prostate cancer.
“More than 12,000 men are dying of prostate cancer every year; it is now the UK’s most common cancer in men, with black men at double the risk, along with men with a family history, like myself.
“While introducing regular checks for men carrying the BRCA genes is a very small step forward, it is not enough. I know, first hand, that by sharing my story following my own diagnosis two years ago, many, many lives have been saved.
“Early screening and diagnosis saves lives. I am determined to continue to use my platform to raise awareness, encourage open discussion, raise vital funds for further research and support, and to campaign for change.”
Image: Sir Chris Hoy. Picture: PA
His views were echoed by Lord Cameron, who this month announced he was treated for prostate cancer last year.
Lord Cameron said in a post on X: “I am disappointed by today’s recommendation on prostate cancer screening from the National Committee.
“Targeted screening is a natural first step – but the recommendation today is far too targeted, not including black men or men with a family history, both high-risk groups.
“Prostate cancer is the most common cancer among British men. We are letting down too many men if we don’t push for a wider screening programme that includes all high-risk groups – and not just the men involved, but their families too, who risk losing a loved one unnecessarily. As I know all too well, prostate cancer can be symptomless early on.
“That’s why screening is so essential – catching the cancers early when they can be more effectively and successfully treated, like in my own case.”
Image: Former British Prime Minister David Cameron said he was treated for prostate cancer last year. (AP Photo/Alex Brandon)
Sir Tony, journalist Mr Murnaghan and retired footballer Les Ferdinand also voiced their disappointment after the decision.
Sir Tony, 79, who starred as Baldrick in Blackadder, said: “I’m bitterly disappointed. Getting an early diagnosis for prostate cancer could save your life, but we still have no screening programme for it in the UK.
“I was lucky I found my cancer early, but nearly 10,000 men a year are diagnosed too late for a cure, and that’s just not right.”
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5:25
Why prostate cancer screening not being expanded
Broadcaster Mr Murnaghan, 67, added: “With prostate cancer cases higher than they’ve ever been, and the disease dominating the national conversation, I really thought we were heading to an exciting moment here.
“I’m so disappointed that the committee has decided not to recommend screening – it felt about time progress was made for men.”
He added in a statement shared with Sky News: “An acceptable halfway house, would perhaps be to extend screening to black men – and those with a known history of cancer in their family. But clearly a full nationwide screening programme would be best.”
Sir Stephen, who is a Prostate Cancer Research ambassador who revealed in 2018 he had undergone surgery after being diagnosed with the disease, said: “I’m deeply disappointed by today’s news. Men in the UK deserve so much better. Prostate cancer remains the second biggest cancer killer of men in this country, with more than 12,000 dying every year.
“The only way we will make a dent in that appalling statistic is by catching prostate cancer early, before symptoms appear – and the best way to do that is through a screening programme. I hope the country sees sense.”
Image: Retired footballer Les Ferdinand also voiced his concerns over the decision. Pic: Reuters
Mr Ferdinand, whose grandfather died from prostate cancer, added: “I’ve seen members of my family survive prostate cancer, because their cancer was found in time.
“Without a national screening programme, the responsibility to find prostate cancer early and in time for a cure rests entirely on men’s shoulders, and it shouldn’t be this way.
“Black men are at double the risk of prostate cancer and twice as likely to die, and something has to be done.”
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3:39
Prostate cancer decision ‘a massive mistake’
Colin McFarlane, an actor who was diagnosed with prostate cancer in 2023, told Sky News presenter Jonathan Samuels the decision was a “massive mistake”.
“I’ve been diagnosed with prostate cancer, but I’m not having any treatment. I have something called active surveillance, so every three months I have a PSA blood test, and then once a year I have an MRI,” he said.
McFarlane said black men over the age of 45 are at high risk, and “should be invited for screening”. He added: “I personally think men over 50 should be invited for screening, because they’re also at risk. I’m concerned now for all the black men out there who are high risk.”
NSC added it did not recommend extensive screening for black men due to a current lack of evidence and data.
The committee also does not recommend targeted screening for men with a family history of the disease, who are also at a higher risk of prostate cancer.
Image: The National Screening Committee is comprised of doctors and economists. File pic: iStock
Health Secretary Wes Streeting said he would consider the findings ahead of March’s final decision, adding that he wanted to see earlier diagnosis and quicker treatment, but that needed to be balanced against “the harms that wider screening could cause to men”.
Prostate cancer symptoms and treatment
According to the NHS, prostate cancer is most common in men over the age of 50 from a black African or Caribbean background.
Its severity is determined by whether it spreads to other parts of the body.
It does not usually have any signs or symptoms at first, but later signs can include back, hip or pelvis pain, or difficulty maintaining an erection.
Problems urinating can also be a sign of other prostate problems.
Treatments for prostate cancer include surgery, radiotherapy and hormone therapy.
However, the NHS says it does not always require treatment.
Professor Sir Mike Richards, a former national cancer director and chairman of the NSC, told a briefing that modelling on PSA shows “whole population screening may lead to a small reduction in prostate cancer deaths, but the very high levels of overdiagnoses” means the harms outweigh the benefits.
Experts are also waiting to see data from a large trial launched by Prostate Cancer UK last week into whether combining PSA with other tests, such as rapid MRI scans, may lead to recommending population-wide screening.
The trial is looking at the most promising screening techniques available, including PSA blood tests, genetic tests and 10-minute MRI scans, and whether they can be combined for a national screening programme.
The results will be ready within two years, it is hoped.
Mr Streeting added: “In the meantime, we will keep making progress on cutting cancer waiting times and investing in research into prostate cancer detection – in the last 12 months, 193,000 more patients received a diagnosis for suspected cancer on time.
“We are also providing funding to the £42m TRANSFORM trial, which has the potential to revolutionise prostate cancer screening, cutting out harmful side effects and making screening far more accurate.”