At least half of people who have a job fear they’ll lose it in the next 12 months

(Credit: Unsplash)

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Gayle Markovitz Editor, World Economic Forum


  • New survey shows more than half of working adults fear for their jobs.
  • But two thirds of workers are optimistic about retraining on the current job.
  • Employment concerns and perceived opportunities to learn new skills varies greatly between countries.

A new Ipsos survey, conducted on behalf of the World Economic Forum, shows that more than half (54%) of working adults fear for their jobs in the next 12 months. However, these workers are outnumbered by those who think their employers will help them retrain on the current job for the jobs of the future (67%).

The size of the gap between optimism about reskilling and pessimism about job losses depends on where you live.

The COVID-19 crisis has accelerated trends towards automation and the use of artificial intelligence. Jobs will certainly go – but new ones that require different skills are emerging.

In parallel, governments are considering the longer-term labour market implications of maintaining, withdrawing or partly continuing the strong crisis support they are providing to businesses to cover wages and maintain jobs.

The result, is a disrupted labour market and uncertain prospects for 2021.

Fear of job losses

The survey of 12,000 employed adults from 27 countries finds that of the 54% who are concerned, 17% are “very concerned” and 37% “somewhat concerned” about losing their job.

Job-loss concern in the next year ranges from 75% in Russia, 73% in Spain, and 71% in Malaysia, to just 26% in Germany, 30% in Sweden, and 36% in the Netherlands and the United States.

Image: Ipsos/World Economic Forum

Prospects to train on the job

The survey also finds that two thirds of employed adults say they can learn and develop skills needed for the jobs of the future through their current employer: 23% are “very much able” to do so, and 44% “somewhat able”.

Across the 27 countries, the perceived ability to learn and develop those skills on the job is most widespread in Spain (86%), Peru (84%), and Mexico (83%) and least common in Japan (45%), Sweden (46%), and Russia (48%).

Image: Ipsos/World Economic Forum

From job-loss pessimism to reskilling optimism

The countries where those who can gain new skills on the job outnumber those who are concerned about losing their job by the largest margins are the United States and Germany (by 40 percentage points).

In reverse, job loss concern is more prevalent than perceived ability to acquire skills in Russia (by 28 points) and, to a lesser extent in Malaysia, Poland, Japan, Turkey, and South Korea.

Image: Ipsos/World Economic Forum

A reskilling revolution?

The forthcoming World Economic Forum 2020 Future of Jobs report will reveal how employers are motivated to support workers who are displaced from their current roles, and plan to transition many of those workers from their current jobs into emerging opportunities. Jobs

What is the World Economic Forum’s Jobs Reset Summit?

The World Economic Forum’s Jobs Reset Summit brings together leaders from business, government, civil society, media and the broader public to shape a new agenda for growth, jobs, skills and equity.

The four-day virtual event, being held on 20-23 October 2020, comes as the world seeks a way out of the COVID-19 pandemic. The coronavirus crisis has further disrupted the world of work after years of growing income inequality, concerns about tech-driven job displacement, and rising societal discord.

The Summit will develop new frameworks, shape innovative solutions and accelerate action on four thematic pillars: Economic Growth, Revival and Transformation; Work, Wages and Job Creation; Education, Skills and Lifelong Learning; and Equity, Inclusion and Social Justice.

Rather than narrowly focusing on short-term savings from layoffs or automation, therefore, businesses that invest in human capital will find that there is a compelling financial and nonfinancial business case to reskill at-risk workers.

An earlier report by the World Economic Forum suggests that human capital is a crucial asset of any business. It highlights how in an age of ubiquitous technology, it is human skills, creativity and capability that will form the competitive edge for any organization. Financing and implementing a “reskilling revolution” is a critical investment for business, workers and economies alike.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

From the Field: Women push for peace

Why medical students decide to study abroad?

As children in Ebola-affected areas of DR Congo head back to school, UNICEF ramps up support

Human rights breaches in Azerbaijan and Sudan

European Citizens’ Initiative: Commission registers ‘End the Cage Age’ initiative

New malaria vaccine trial in Malawi marks ‘an innovation milestone’, declares UN health agency

UN chief hopes for new agreement after Israel concludes international observation mission

UN chief urges top digital tech panel to come up with ‘bold, innovative ideas’ for an ‘inclusive’ future

Coronavirus: The truth against the myths

UN chief praises Malaysia’s death penalty repeal as ‘major step forward’

Mental health in the COVID-19 pandemic

Asylum seekers in Sri Lanka fear for their safety, in wake of Easter Sunday terror attacks

These 8 countries have perfect scores for women’s rights at work

Some 300,000 Venezuelan children in Colombia need humanitarian assistance; UNICEF looks to boost response funding

Yemen war: UN-backed talks to silence the guns due to begin in Stockholm

Why embracing human rights will ensure Artificial Intelligence works for all

4 ways digitisation can unlock Africa’s recovery

European Commission reacts to the US restrictions on steel and aluminium affecting the EU

This is how we can empower 8 billion minds by 2030

World Health Organisation and young doctors: is there any place for improvement?

This is why people live, work and stay in a growing city

A Sting Exclusive: “Technology for all, development for all: the role of ITU”, written by the Secretary General of the United Nations Agency

Τhe EU Refugee Crisis: a day in the life of a Refugee in Greece

EU budget agreement rejected by the European Parliament

Global Compact on Refugees: How is this different from the migrants’ pact and how will it help?

EU–Canada Summit: strengthening the rules-based international order

Africa’s future is innovation rather than industrialization

Living in the mouth of the shark: we are all refugees

Trump systematically upsets global order and trade: Where does this end?

Upgraded EU visa information database to increase security at external borders

Two-thirds of global drug deaths now from opioids: UN drugs report

Global aid appeal targets more than 93 million most in need next year

Health services for Syrian women caught up in war, foster safety and hope: UNFPA

How to push out of our comfort zones – an extract

Climate change: ‘A moral, ethical and economic imperative’ to slow global warming say UN leaders, calling for more action

Subsidiarity and Proportionality: Task Force presents recommendations on a new way of working to President Juncker

How Costa Rica’s environment minister talks to his daughter about climate change

Trump rejects Europe’s offer for zero car tariffs; he had personally tabled that idea in July

A Sting Exclusive: “Cybersecurity Act for a cyber-bulletproof EU”, by EU Vice-President Ansip

Ukraine turns again to the EU for more money

European Citizens’ Initiative: Commission registers ‘Stop Finning – Stop the trade’ initiative

‘Eden bonds’: how rewilding could save the climate and your pension

OECD tells Eurozone to prepare its banks for a tsunami coming from developing countries

What if the doctor become a patient?

What’s going on in Chernobyl today?

Tackling ‘deeply worrying’ global rise in anti-Semitism is a job for all societies everywhere, says UN chief

These are the world’s least – and most – corrupt countries

Time to measure up: 5 ways the fashion industry can be made more sustainable

Refugee crisis update: EU fails to relocate immigrants from Greece and Italy

Belgium eases lockdown with free train tickets for every citizen

Trade Barriers Report: EU continues to open up markets outside Europe in midst of rising protectionism

One-third of young people still optimistic despite COVID’s dramatic hit on education and jobs

Customs Union: New Action Plan to further support EU customs in their vital role of protecting EU revenues, prosperity and security

5 things you probably didn’t know about global health

How video games can reunite a divided world

Managing and resolving conflicts in a politically inclined group of team members

Sri Lankan authorities must work ‘vigorously’ to ease simmering ethno-religious tensions, urges UN rights expert

COP25: Support business efforts to tackle climate change, urges Guterres

Cohesion Policy after 2020: preparing the future of EU investments in health

Time to act together: Von der Leyen at the European Parliament July plenary

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s