At what pace are we?

If you’ve spent enough time on LinkedIn or chatting with coworkers and friends, you’ve probably noticed a paradox: there are plenty of highly skilled professionals looking for jobs, yet we constantly hear about a global talent shortage. Countries seem to be competing fiercely for the “best” talent, battling to attract and retain skilled workers, but yet layoffs and hirigns freeze seems to be a reality of our days. Which makes us think, is the global race for talent dead?

According to the International Labour Organization’s (ILO) World Employment and Social Outlook: Trends 2025 report, published on January 16, 2025, the competition for talent is far from over, in fact, it’s intensifying. The global unemployment rate remained at a historic low of 5% in 2024, and the ILO projects it will hold steady in 2025 before dipping to 4.9% in 2026. The same has been observed with the global jobs gap rate.

It seems we have reached a historically low unemployment rate, and the perception of highly skilled talent being unemployed may be a matter of perspective (?). Social media, especially LinkedIn, amplifies certain narratives, making it appear as though we have a comprehensive view of global employment trends. However, in reality, we are often confined to our own professional and social bubbles. This can create the illusion of understanding macro trends, when in fact, our insights are still limited.

According to U.N. forecasts, the working-age population in developed economies peaked at 746 million in 2023 and is expected to decline by 47 million by 2050. (Source: population.un.org)

So, the race is on, and what is shaping this change? Well According to the World Economic Forum, Future of Jobs Survey 2025, you should take notice of:

Highest Growing Roles

Frontline jobs, including farmworkers, delivery drivers, construction workers, salespersons, and food processing workers, are expected to see the highest absolute growth, alongside care economy roles such as nurses, social workers, and personal care aides. Education roles, particularly in secondary and tertiary teaching, will also expand. In percentage terms, technology-related jobs, such as AI specialists, fintech engineers, and software developers—are growing fastest, along with green energy roles like renewable energy engineers and EV specialists

Highest Growing Skills

Employers consider analytical thinking the most essential skill for 2025, followed by resilience, flexibility, agility, leadership, and social influence. AI, big data, cybersecurity, and tech literacy are the fastest-growing skills, alongside creative thinking, curiosity, and lifelong learning. Meanwhile, manual dexterity, endurance, and precision are expected to decline in demand.

Upskilling as a trend

With evolving skill demands, workforce upskilling and reskilling remain critical. By 2030, 59% of workers will need training, 29% can be upskilled in their current roles, 19% can be retrained for new roles within their company, but 11% may miss out, risking unemployment. Skill gaps are the biggest challenge to business transformation, cited by 63% of employers. To address this, 85% plan to upskill their workforce, 70% will hire for new skills, 50% will transition staff to growing roles, and 40% may reduce staff whose skills become outdated.

So it seems that the global race for talent is not slowing down, it is evolving.

While social media amplifies the perception of widespread unemployment among skilled professionals, macroeconomic data tells a different story. To navigate this transition, industries must prioritize upskilling and reskilling, as the demand for digital, analytical, and sustainability-focused skills grows. The workforce landscape is shifting towards frontline jobs, care economy roles, and technology-driven professions, while clerical and manual jobs are in decline. However, this transformation is not solely about employment figures; it is deeply connected to broader demographic trends. An aging population, shrinking labor force, and growing regional disparities pose significant challenges to economic sustainability. Addressing these issues requires a proactive approach from policymakers, businesses, and workers alike to ensure economic resilience and social well-being in the coming decades.

References:

INTERNATIONAL LABOUR ORGANIZATION. World Employment and Social Outlook: Trends 2025. Geneva: ILO, 2025. Available at: https://www.ilo.org. Accessed on: Mar. 17, 2025.

UNITED NATIONS. World Population Prospects 2022. New York: UN, 2022. Available at: https://population.un.org. Accessed on: Mar. 17, 2025.

WORLD ECONOMIC FORUM. Future of Jobs Report 2025. Geneva: WEF, 2025. Available at: https://www.weforum.org. Accessed on: Mar. 17, 2025.