Covid pandemic is rapidly changing the job market. Which qualifications are in greater demand by 2025, which are less in demand
The rapid digitalization and automation push caused by the Covid19 pandemic will also change the job market and thus the demand for certain qualifications. In the next five years there will be particular demand for those workers who can use the advancing digitization in their work, according to the current “Future of Jobs 2020” report by the World Economic Forum (WEF).
The demand for data scientists, artificial intelligence (AI) experts and robotics engineers is particularly high. On the other hand, more and more classic office jobs are increasingly breaking away from simple data entry through accounting and payroll accounting to customer service. The WEF has created its own table for this (graphic: Agenda Austria):
More job cuts than job creation
The WEF report aggregates executive views with the latest data from public and private sources to create a picture of both the current situation and future prospects for jobs and skills. The report also includes detailed information for 15 industries and 26 developed and emerging countries.
According to the report, 43 percent of executives surveyed say they will reduce their workforce by 2025 due to technology integration, 41 percent plan to expand their use of contractors for task-specific work, and 34 percent plan to expand their workforce because of technology integration. However, many companies also expect changes in locations, value chains and headcount due to factors that go beyond technology.
Artificial intelligence on the advance
Critical thinking required
Not new, but due to digitization as top skills among workers, critical thinking and analysis as well as self-management skills such as active learning, resilience, stress tolerance and flexibility are becoming even more in demand.
On average, the companies surveyed expect that around 40 percent of employees will need retraining of six months or less. The time window for re-qualification and qualification of workers is getting shorter and shorter in the newly restricted labor market. This applies both to workers who are likely to remain in their positions and to workers who are at risk of losing their roles due to rising recession-related unemployment.
Online learning is in demand
Inequality grows
The report also suggests that labor inequality will be exacerbated by the dual impact of technology and the pandemic recession. The jobs of workers with lower wages, women and younger workers are more severely affected by the pandemic. Compared to the 2008 financial crisis, the effects are therefore generally much more significant and are therefore likely to deepen existing inequalities.
