Coronavirus forced a paradigm shift, wreaking havoc through the fibers that held the society together. The worldwide economy has been severely damaged, along with healthcare. South America, the Caribbean, Europe, and Central Asia were the worst affected through the first six months of 2021.
Unemployment is projected to reach 205 million by 2022, at a rate of 5.7%. The number stood at 187 million in 2019. The International Labour Organization is prompting organizations to accelerate job creations with human-centric policies. Strategies formulated must be comprehensive and coordinated.
Resistance and Recovery
Reports of increasing employment opportunities surfaced throughout 2021. 850 thousand jobs were added in June completing six consecutive months of gain in the US. The number is the highest since August 2020. Job sectors that shifted to remote working models have recovered almost completely. However, areas that took the worst beating are still far from recuperating.
The slow shift towards normalcy has been visible since April 2021. Job openings increased by a million- setting up new records. With 349,000 new openings, the accommodation and food services sector shows the highest gain. On the other hand, education services closed off 23,000 openings.
Recruitment drives have also rebounded in other countries. CMIE reported a decrease in unemployment from 33 million to 27.9 million in just one month. 12 million Indians were recruited in January 2021, reducing the unemployment percentage from 9.1% to 6.5%.
Top Sought After Employment Opportunities in 2021
LinkedIn published an article highlighting in-demand professions in January 2021. The list includes job profiles from diverse segments such as:
The AI sector was already growing before the pandemic began. Companies that neglected AI were now forced to catch up to avoid future disruptions. The market grew at a healthy 32% rate.
Job Profiles: ML Engineer, AI Specialist, ML Researcher.
Skillset: C++, Python, and AWS.
Businesses rely on data to understand the state of their operations and plan forward. Building data models for analysis and processing are the main objectives of Data Science Professionals. Recruitments in this sector grew around 46%.
Job Profiles: Data Scientist, Data Management Analyst, Data Science Specialist.
Skillset: TensorFlow, Data Visualization, and Statistical Modelling.
With the oversaturation of competitors in the digital space, the implementation of the right strategies is essential for client conversion. Digital marketers ensure that your product sells. Businesses are already catching up, evident by the 33% annual increase in digital marketing recruitment.
Job Profile: Digital Marketing Specialist, Social Media Manager, SEO Expert.
Skillset: Product Marketing, Digital Strategy, Brand Management.
The success of an app or a website relies largely on its performance. UX professionals figure out the product impact on possible interaction and suggest necessary improvements if required. UX hiring grew by 20%.
Job Profiles: UX Designer, Product Design Consultants, UI Designer, UX Researcher.
Skillset: UX Testing, Web Design, Design Thinking.
Upcoming Job Market Scenario
Employability changed drastically over the past few years. The year-long lockdown helped people upskill online. Industry-relevant certifications from universities and other institutions are also available. A total shift from remote to onsite working is still not feasible. HashCash Consultants, a global blockchain development company, recruited remote-working professionals online with technological aid.
Also Read: Impact of Covid-19 Pandemic On Stock Markets
The Fourth Great Industrial Revolution has already begun with widespread automation and digitalization. Job profiles are evolving and becoming increasingly project-centric. A solid grasp of digital skills is the need of the hour. Self-motivation is key for remote workers in autonomous conditions.