As well as the multiple humanitarian crises that occurred last year, some social groups also faced problems of an economic nature such as layoffs. The tech industry, for example, was hit by with this phenomenon, leading many employees around the world to worry about their future. According to the latest International Labor Organization report, the future is not particularly bright with a slight increase in global unemployment in 2024 being anticipated due to the emerging labour market challenges. However, many experts state that as economic growth re-gains pace, over the next two years the job market could slowly recover to pre-pandemic levels.
Key Takeaways:
- According to the International Labour Organization, geopolitical tensions and inflation led to a significant deterioration in the macroeconomic environment in 2023 with large emerging economies experiencing considerable slowdowns that has impacted global industrial activity, investment, and trade.
- Reports predict that global unemployment will rise by 2 million, pushing the rate up from 5.1% in 2023 to 5.2% in 2024.
- International experts consider employment opportunities in sectors such as humanitarian crises, conflict resolution, public health, environmental sustainability, and technology for development to be on the rise.
- “Adaptation” and “reinvention” are highly sought skills for individuals seeking employment in evolving sectors.
DevelopmentAid: What are your forecasts for the labor market in the international development sector in 2024?
“There is still much to be done for countries around the world to support their goals in achieving their development agendas. While efforts are noticeable, particularly with the assistance of development banks for developing countries, there is still a long way to go. Inequality and inequity persist, along with challenges that threaten the sustainability of production processes. In this context, certain sectors on international agendas will gain relevance, accompanied by increased investment and a greater demand for the workforce, such as electromobility. Considering the significant role of artificial intelligence (AI), despite some opposing beliefs, I believe that the good and responsible use of AI will be necessary, requiring a more skilled labor force. Digitalization, renewable energy, fintech, biotechnology, and IT are some sectors that I believe are growing and contributing to international development, thereby enhancing the job market’s expansion.”
See also: Future of Jobs Report 2023: Insights into the future of the job market
“The unemployment rate will continue to decrease in 2024 because the negative externalities of COVID-19 are now completely under control. After the stabilization period in 2022 and 2023, African economies will now move to the take-off stage. This stage has even already begun because, in 2023, Africa was the second continent after Asia in terms of the strongest economic growth. In addition, in their reaction to COVID-19 economic actors have gone further than simple “adaptation-stabilization” practices. They have developed and acquired new skills, notably teleworking and artificial intelligence. These two areas are those which will experience even greater development in 2024, especially in Africa where most companies are now benefiting from greater diffusion and easier access to these sectors of the economy. This development will have a significant positive impact on employment on the continent. The downward trend in the unemployment rate will be even more significant on the continent as the combined effects of Africa’s strong economic growth and the development of the teleworking and artificial intelligence sectors will make it possible to obtain a more sustained growth in jobs.”
“Since the pandemic and the commencement of the war in Ukraine, the world is changing more quickly, with macroeconomic conditions drastically changing. More than ever, digitization is a top priority, and this has a significant impact on every industry. These developments, which are facilitating easier trans-border coworking, along with the prediction of a slowdown in the GDP in many nations, could result in a slight decrease in certain industries but overall, the labor market in the international development sector will grow. Additionally, because of the digital transformation, employers are hiring more competent candidates to achieve the results that qualified employees can secure. Macroeconomic indicator changes are driving up demand for qualified workers wherever and whenever they are in the world.”
“I think that there is a certain saturation level in the labor market. As proof, I see many young graduates who have no jobs, and employees who are not happy but who have difficulty finding better jobs. Seniors are not the only ones with a desire to make additional gains from activities in the areas of their professional specializations. I note that the constant evolution of the world also influences the need to succeed and hence the need to adapt professional skills. It is important to develop critical thinking and be prepared to solve complex problems so I think it’s important to think about preparing for a reconversion.”
DevelopmentAid: In your opinion, which sectors will be most in demand and why?
“Forecasting the labor market within the international development sector for 2024 is complex and subject to multifaceted influences such as economic conditions, geopolitical dynamics, and global challenges. Recent trends point to a burgeoning focus on key sectors, namely renewable energy, healthcare infrastructure, and technology integration within developmental frameworks. These sectors are poised for heightened demand owing to their pivotal roles in achieving sustainable development goals, bolstering climate resilience, and improving access to essential services. The impetus on eco-friendly initiatives is expected to drive greater opportunities in renewable energy that is specifically geared towards clean energy projects and global sustainability endeavours. Concurrently, the emphasis on healthcare infrastructure, particularly in marginalized regions, is set to foster job expansion in healthcare administration, medical research, and public health initiatives. The anticipated surge in demand for technological integration, encompassing data analytics, AI, and digital connectivity, is projected to substantially augment efficiency, accessibility, and innovation in development endeavours. However, potential fluctuations due to geopolitical shifts, funding variations, and evolving global dynamics may impact job availability. The trajectory toward continued remote work, accelerated by the pandemic, could reshape recruitment trends, potentially creating avenues for a more widely dispersed global workforce. Vigilance in monitoring the trends within data and technology sectors remains prudent. Advanced expertise in analytics, AI, and cybersecurity holds pivotal significance in modern developmental initiatives, potentially propelling the demand for professionals in these specialized fields. Despite the employment rates being susceptible to the stability of the global economy, the international development sector’s unwavering commitment to addressing critical global challenges could facilitate moderate growth or stability in employment opportunities within these pivotal sectors throughout 2024.”
See also: Technology’s impact on employment: benefits and drawbacks
“Although there are several growing sectors, I believe one of the most important is linked to digitization and the use of new technologies such as artificial intelligence, which is having a significant impact on companies from countries across Europe, the United States, and Japan, among others. The ability to enhance human reasoning and develop more efficient and effective processes will lead to changes in production methods. The potential quality that AI can achieve in production chains is immense, and it is crucial to focus on qualified individuals understanding the skills needed. Another significant sector, aligned with development goals, will be sustainable mining, such as the extraction of lithium, a crucial mineral for creating more sustainable and less harmful batteries for electric vehicles. This is especially relevant for countries like Argentina, Bolivia, and Chile (the lithium triangle) which are currently developing countries. They will have a substantial opportunity to establish cooperation ties with countries that have a high demand for minerals like lithium, driven by the pursuit of goals such as zero emissions.”
“Due to rapid changes in macroeconomic conditions and emerging technologies, new skills are required and in high demand. Because the way of working in international development is in a transformation phase, and due to the demand for digital transformation in the entire world and every sector, digitalization skills and leadership skills to support teams through organizational change are a growing priority. Artificial intelligence makes things much easier. Every sector that has digital technologies involved in it needs to transform digitally to adopt business intelligence. Since social media is used by most people on the planet, expertise in e-commerce, social media marketing, and goal-setting to provide appropriate content to audiences is in great demand.”
“The international development sector is becoming more and more difficult to predict. This is mainly due to geopolitical events and security-related challenges, and shifts in funding priorities from the major global economic leaders as well as the ever-changing global economic landscape, all of which can impact job opportunities. The demand for professionals in areas such as humanitarian crises and conflict resolution is likely to remain essential, public health, environmental sustainability, and tech-savvy for development purposes will continue to rise due to increasing awareness and global challenges. Similarly, the challenges of being employed in international development are also increasing with humanitarian colleagues losing their lives in conflicts around the world. Continual adaptation to emerging issues will be crucial for those professionals seeking opportunities in the evolving international development landscape.”
“With evolution, we are witnessing the development of artificial intelligence (AI) which can undertake tedious activities. In addition, COP28, which was held in the United Arab Emirates and aimed to resolve the climate crisis by agreeing on the means to limit the increase in temperatures to achieve zero net emissions by 2050, gave an opportunity for the creation of new jobs that focus on the Green Revolution. These different observations, with the desire to become aware of populations and political will, I can say that in 2024, new jobs will be available if we reinvent ourselves.”
See also: What are the economic predictions for 2024? | Experts’ Opinions
As per experts’ predictions, 2024 could be a very competitive year in certain areas within the international development sector. Gone are the days when just applying for open positions could land you a good career. Nowadays, applicants must try several methods in order to break into prestigious organizations. In this respect, the DevelopmentAid platform, with more than 8,000 open positions in the international development sector, tenders and grants for individuals, and contacts with international development organizations, is an incredibly valuable asset to anyone searching for a job. Therefore, becoming a Professional Plus member is crucial if you want to stand out from the competition.
