It is the data economy that triggers the fourth industrial revolution

According to a WEF study, the intelligent use of Big Data will create the value of what we are willing to live, work and buy for...

The management of Big Data will be crucial for the genesis of new jobs
The management of Big Data will be crucial for the genesis of new jobs

Which activities in the Eurozone have the greatest employment potential? This is the question a recent report by Stefan Ellerbeck, columnist at the World Economic Forum of Geneva, one of the major centers of socio-economic research International.

Let's make it clear right away: with the easing of health restrictions, tourism and hospitality, i.e. the activities that gravitate around the hotel sector, have signaled a decisive recovery.

But also digital data analysts, just as Artificial Intelligence and Robotics experts are also sought after thanks to the restart of the "Fourth Industrial Revolution", the alliance between digital and human capabilities in the development of latest generation industrial and production processes .

Despite the socio-economic difficulties of the last two years, the WEF scholars point out that, all in all, these have not led to an increase in unemployment.

The observation may surprise, especially if one considers that COVID-19 had heavily affected an EU manufacturing sector which, warns the Brussels statistical office, i.e. Eurostat, in terms of gross value of industrial production in 2020 had collapsed by almost 6 percent compared to the previous twelve months.

To these difficulties should have been added those due to the ongoing Russia-Ukraine conflict and which still burden the Community energy bill beyond all expectations.

Well, warns the report of the World Economic Forum, despite these far from encouraging assumptions, the economy of the Eurozone in the second quarter of the current year records an increase of more than 4 percent on an annual basis, and at least according to one interpretation statistic takes away the predictions of a recession.

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The unemployment rate in the euro area and in the European Union over the two years between June 2020 and June 2022
The unemployment rate in the euro area and in the European Union over the two years between June 2020 and June 2022

Unemployment in the EU? From 12 percent in Athens and Madrid to 2,4 in Prague

Positive confirmations also come from the unemployment rate, which stands at 6 per cent on a monthly basis. (GRAPH 1)

Naturally this is a median value, which starts from a maximum of 12 percent of jobless in Greece and Spain, and reaches a minimum of 2,4 percent in the Czech Republic.

In general, the WEF scholars observe, it is currently confirmed that unemployment in Europe has fallen by 1,3 percent compared to 2021 values.

As anticipated at the beginning, hospitality and tourism are the sectors driving the recovery of work in our continent.

Between the first quarter of 2021 and the corresponding period in 2022, Eurostat in fact records a 25 percent jump in jobs in the catering sector, from 1,1 to 1,4 million workers.

Parallel to this figure we find the tasks related to customer assistance, the "personal service workers".

It is also a category that gravitates towards the world of tourism, and also includes waiters, bartenders and travel guides.

Well, even in these areas the employment rate increased by 15,6 per cent and reached 7,6 million wage earners.

These are the professions, observe the experts, who have benefited from the social easing due to the decline in pandemic infections.

Returning to the ranking of winning occupations after the pandemic, we find computer scientists in third place, of which the latest surveys confirm an increase of 9,6 percentage points, and a total of jobs that now stands at 4,5 million employees.

In contrast, with a drop of 12.6 percent, there are instead the activities that concern agriculture, fishing, and forestry.

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The chart of the 10 most developed job positions in the European Union between the first quarters of 2021 and 2022
The chart of the 10 most developed job positions in the European Union between the first quarters of 2021 and 2022

40 percent of the eurozone workforce wants to switch industries

However, scholars invite us to interpret these findings as anticipating new social trends.

In fact, as many as 40 percent of the eurozone's workforce today are willing not only to change jobs, but actually to change their line of business.

It is the result of the long periods of isolation, the famous lockdowns, that we have experienced during the COVID-19.

It is an epochal revolution, the "great reshuffle", as scholars define it

In the meantime, between the desire to leave their office and the signing of a new employment contract, many convert to precarious work, to the "gig economy", in which the hospitality sector offers abundant opportunities, especially to professionals who know how to bring added value thanks to their digital skills.

But today this silent evolution of the professions is only in its infancy

The desire to change your life soon will soon be satisfied by the arrival of new activities.

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Ignazio Cassis, President of the Swiss Confederation, at the World Economic Forum in Davos (Photo: Alexis Maçon/World Economic Forum)
Ignazio Cassis, President of the Swiss Confederation, at the World Economic Forum in Davos (Photo: Alexis Maçon/World Economic Forum)

97 million new jobs in the European Union within the next three years

In fact, within the next three years, the experts anticipate, the job market in the Eurozone will offer as many as 97 million new jobs.

These tasks will be responsible for coordinating the traditional and digital activities that Artificial Intelligence, thanks to robotics governed precisely by numerical algorithms, will ultimately translate into added value of the product.

In short: the intelligent use of data will create the value of what we are willing to live, work and buy for.

The future that awaits us, the "fourth industrial revolution", towards which we are on our way and ready to transform the 85 million jobs currently available in the EU, is summarized by the Eurostat statistics elaborated by the WEF.

As always, there will be occupations that win and others that lose.

But in any case, the experts of the World Economic Forum reassure, the imbalances of this transition will be counterbalanced by the creation of new professions in sectors that are not yet conceivable.

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High-ranking Swiss and international personalities at the presentation of the
High-ranking Swiss and international personalities at the presentation of the "Digital Trust Label" at the 2022 World Economic Forum in Davos