ISLAMABAD: Deciding on a professional path can be difficult, but knowing what jobs are in demand and how future markets will look will help make an informed selection.
According to a new World Economic Forum (WEF) report, the ten fastest growing jobs in the world are artificial learning and machine learning specialists, sustainability specialists, business intelligence analysts, information security analysts, fintech engineers, data analysts and scientists, robotics engineers, electro technology engineers, agriculture equipment operators, and digital transformation specialists.
The “Future of Jobs Report 2023,” released on Monday, described the shifting environment of employment, rising trends, technology, and workforce skills required in the next years.
According to the report, various worldwide trends and technologies, such as digital platforms and apps, big-data analytics, and education and workforce development technologies, could have an impact on Pakistan’s labour market.
According to a new WEF estimate, Pakistan’s working-age population is 85.78 million.
Bank tellers and related clerks, postal service clerks, cashiers and ticket clerks, data entry clerks, administration and executive secretaries, material recording and stock-keeping clerks, accountants, bookkeeping and payroll clerks, legislators and officials, Given the changing tendencies in emerging labour markets, the analysis anticipated that 23% of jobs would change by 2027, with 69 million new jobs generated and 83 million lost.
Net job growth will result from the green transition and localization of supply chains.
According to the survey, cognitive abilities like analytical and creative thinking would be most vital for workers in 2023 and the next five years.
For their skill plans, most businesses will priorities AI and big data.
According to the report, the working-age population in Pakistan is approximately 85.78 million, representing a large pool of potential talent. Statistical, finance and insurance clerks, door-to-door sales workers, and street vendors are among the jobs that are rapidly becoming obsolete, according to the report.
Pakistan’s workforce strategy forecast is mixed, with a 41 percent projection.
There was a 24% anticipation of decreased talent retention for the existing workforce as talent availability improved.
The country’s labour force participation rate stood at 57%, with vulnerable employment accounting for 55% of the workforce. The unemployment rate remained relatively low at 5%.
According to Amir Jahangir, CEO of Mishal Pakistan, a WEF partner institute, Pakistan can connect its human capital to the global labour market, but it must focus on upgrading the education system, investing in vocational training, and cultivating an innovation culture.
The WEF’s managing director, Saadia Zahidi, stated that the labour market has remained unstable over the last three years due to variables such as Covid-19, geopolitics, and economic developments. The advancement of AI and other technology has increased the dangers associated with many professions, but the good news is that there is a clear path forward as governments and businesses engage in the transition to future jobs, she said in a statement.