Pathways to Global Job Creation

The document outlines strategies for global job creation amidst industry transformations driven by technology, the green transition, and value chain restructuring. It identifies four primary investment pathways: strategic industries, research and development (R&D), small- and medium-sized enterprises (SMEs), and trade growth. The paper provides global examples of these pathways in action, such as renewable energy jobs in China and the US, pharmaceutical growth in India, and export processing zones in Ethiopia. It emphasizes the need for high-quality, formal employment to address working poverty and the specific challenges faced by women and youth.

• Global unemployment is projected to increase by 3 million to reach 208 million in 2023, with significant divergence between high-income OECD countries, which have a record-low average unemployment rate of 4.9%, and low- or lower-middle-income countries where rates remain above pre-pandemic levels.
• In Africa, the population is expected to grow by 450 million by 2035, but current trends suggest only approximately 100 million new jobs will be created in that period.
• Investments in the care sector could generate up to 299 million global jobs by 2035, including 96 million in childcare and 136 million in long-term care; 78% of these new roles are predicted to be held by women and 84% are expected to be formal employment.
• The green transition is a major driver of employment; China currently provides 42% of global renewable energy jobs, and the US Inflation Reduction Act has supported 100,000 clean energy jobs since August 2022. Globally, the renewable energy sector could grow from 12.7 million to 38.2 million jobs by 2030 with increased front-loaded investment.
• Public R&D investment creates high-quality jobs, with OECD economies seeing five new jobs for every one million dollars invested, a figure that doubles when channeled through higher education institutions. Examples include the EU's Horizon 2020, which is estimated to create 2.3 million jobs between 2014 and 2030.
• Supporting SMEs is critical as they account for 70% of total employment globally, though two-thirds of this is in the informal sector. Effective interventions include linkage programmes (as seen in Guinea creating 700 jobs), reducing regulatory burdens (as in Chile), and productivity training (such as the ILO's SCORE Programme in Indonesia).
• Trade growth drives job creation by increasing demand for exports, as evidenced by Malaysia, where 40% of jobs are linked to export activities, and Ireland, where 47% of the workforce produces goods and services for overseas consumption.
• Industry transformation is shifting labor demands: 23% of jobs are expected to change by 2027. While 69 million new jobs are predicted, 83 million will be eliminated. The fastest-growing roles include AI, machine learning, and sustainability specialists, while clerical and secretarial roles are expected to decline fastest.

APA

World Economic Forum (2023). Pathways to Global Job Creation. https://www3.weforum.org/docs/WEF_The_Need_for_Global_Job_Creation_2023.pdf

Chicago

World Economic Forum. Pathways to Global Job Creation. 2023. https://www3.weforum.org/docs/WEF_The_Need_for_Global_Job_Creation_2023.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Pathways to Global Job Creation |date=May 2023 |url=https://www3.weforum.org/docs/WEF_The_Need_for_Global_Job_Creation_2023.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2023pathways, author = {{World Economic Forum}}, title = {{Pathways to Global Job Creation}}, institution = {World Economic Forum}, year = {2023}, month = may, url = {https://www3.weforum.org/docs/WEF_The_Need_for_Global_Job_Creation_2023.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }