Beancounters working for Davos [shurely Davros.ed] told the World Economic Forum (WEF), that there will be 7.1 million jobs lost which would offset by a gain of 2 million new positions.
The 15 economies covered by the survey account for approximately 65 percent of the world’s total workforce.
To make matters worse, this will co-incide with an expected rise in global unemployment of 11 million by 2020.
Two-thirds of the projected losses are expected to fall in the office and administrative sectors as smart machines take over more routine tasks.
The WEF has made “the fourth industrial revolution” – a topic covering robotics, nanotechnology, 3D printing and biotechnology – the official theme of this year’s Davos meeting, which runs from Jan. 20 to 23.
The “Future of Jobs” report concluded that jobs would be displaced in every industry, although the impact would vary considerably, with the biggest negative losses likely to be in healthcare, reflecting the rise of telemedicine, followed by energy and financial services.
At the same time, however, there will be a growing demand for certain skilled workers, including data analysts and specialist sales representatives.
Women will be the biggest losers as their jobs are often concentrated in low-growth or declining areas such as sales, office and administrative roles, the report said.
While men will see approximately one job gained for every three lost over the next five years, women face more than five jobs lost for every one gained.