World Economic Forum; The Future of Jobs Report 2020 findings: (Thread)

1. The pace of technology adoption is expected to remain unabated and may accelerate in some areas.

2. Automation, in tandem with the COVID-19 recession, is creating a ‘double-disruption’ scenario for workers

3. Although the number of jobs destroyed will be surpassed by the number of ‘jobs of tomorrow’ created, in contrast to previous years, job creation is slowing while job destruction accelerates.

4. Skills gaps continue to be high as in-demand skills across jobs change in the next five years.

5. The future of work has already arrived for a large majority of the online white-collar workforce.

6. In the absence of proactive efforts, inequality is likely to be exacerbated by the dual impact of technology and the pandemic recession.

7. Online learning and training is on the rise but looks different for those in employment and those who are unemployed.

8. The window of opportunity to reskill and upskill workers has become shorter in the newly constrained labour market.

9. Despite the current economic downturn, the large majority of employers recognize the value of human capital investment.

10. Companies need to invest in better metrics of human and social capital through adoption of environmental, social and governance (ESG) metrics and matched with renewed measures of human capital accounting.

11. The public sector needs to provide stronger support for reskilling and upskilling for at-risk or displaced workers.

Some of the analytics from the report

Emerging technologies and JOBS of tomorrow