Urgent upskilling needed to cater 78 million new jobs: World Economic Forum

The World Economic Forum (WEF) said that job disruption will equate to 22 percent of the jobs by 2030.

In a report released on Tuesday titled 'Future of Jobs Report 2025' WEF said tht 170 million new jobs will be created and 92 million jobs will be displaced resulting in a net increase of 78 million jobs by 2030.

Based on data from over 1000 companies, the report finds that skill gap is the most significant hurdle for business transformation in these companies. Nearly 40 per cent of skills required for the jobs need to change and 63 per cent of the employers says they are facing proper skill set as the key barrier.

The report said out of every 100 workers from the global workforce, 59 are projected to require reskilling or upskilling by 2030, but out of this 11 are unlikely to receive it which suggests that over 120 million workers are at medium-term risk of redundancy.

The report analysed that technology skills in Artificial intelligence (AI), big data and cybersecurity are expected to see rapid growth in demand, but human skills, such as creative thinking, resilience, flexibility and agility, will remain critical. Persons having a combination of both skill types will be increasingly crucial in a fast-shifting job market.