The Future of Jobs Report 2023 released has indicated that 23% of jobs are expected to undergo changes in the next five years. The report was based on a survey of 803 companies and estimated that 69 million new jobs will be created while 83 million jobs will be eliminated.
This amounts to a net decrease of 14 million jobs or 2% of current employment among the 673 million jobs covered in the survey. Interestingly, India is expected to see a slightly lower churn rate of 22% compared to the global average of 23%. Further, the findings also highlight that 61% of Indian companies believe that broader applications of ESG (Environmental, Social, and Governance) standards will be the driving job growth, followed by increased adoption of new technologies (59%) and broadening digital access (55%).