The labor market is changing faster than you might realise. Demographic changes and technological advancements may lead to the net loss of 5 million jobs by 2020, according to a report published by the World Economic Forum. In total, the report estimates that a total of 7.1 million jobs could be lost, the majority of which will be white-collar office and administrative jobs. Read on to find out which careers are most promising.
Software Development and IT
IT professionals have an extremely favourable outlook. As big data increasingly drives commerce, the skills needed to control networks of information are more valuable than ever. Some key areas of focus include software applications developers, database administrators and computer and information systems managers.
Data analysts will become increasingly more important in all industries by 2020. Companies will need help making sense of all of the data generated by technological disruptions.
Architects and engineering
Demand for these skills are expected to remain stable and potentially increase. There will be growth for engineers focused on biochemicals, nanotechnology, robotics, and materials.
There will be high demand for digitally literate, professional practice accountants. Demand for accounting and finance professionals is expected to grow by another 22% by 2020. Meanwhile, demand for actuaries, mathematicians and statisticians will increase by almost 10% by 2020.
Human resources and organisational development specialists
There will also be a need for roles to help re-skill workers. While technological and socio-economic changes will cause some jobs to disappear completely, there will also be a new jobs created and people needed to fill them. So development specialists and human resource professionals will be needed not only for hiring in a competitive market, but they will also be needed to help employees develop new skill sets.
As more people live longer, every aspect of the health care sector is poised for growth. And while automation is changing how some health care is delivered, demand for caregivers is going to increase as we commit to providing health care for more of the population—a population that is growing and living longer.
Social Intelligence and new media literacy
Soft skills, like social and emotional intelligence and cross-cultural competency will be of huge demand, especially in the era of virtual collaboration. New media literacy—understanding various media platforms and how to best communicate effectively in them—are valuable skills that robots won’t be likely to match any time soon.