🛠️ Skills and Workforce Futures #01

HolonIQ is now tracking reskilling and upskilling initiatives that are critical in bridging workforce gaps. Impact industries are rapidly evolving, fueled by technological advancements, decarbonization, geopolitical dynamics, and socio-economic factors. These sectors require considerable workforce/professional development initiatives to enhance workers' capabilities, boost economic growth, and promote social well-being. Read on for this week’s insights.

🌎 Global Labor Market Trends

💻 Research: How Gen AI Is Already Impacting the Labor Market. New research analyzed over a million job posts for online gig workers to see what effect the introduction of tools like ChatGPT and image-generating AI has already had on the number of posts, job requirements, and pay of online workers — and which fields and professions have been the most impacted. After the introduction of ChatGPT, there was a 21% decrease in the weekly number of posts in automation-prone jobs compared to manual-intensive jobs. Writing jobs were affected the most (30.37% decrease), followed by software, app, and web development (20.62%) and engineering (10.42%).

👷 UK Labor Market Faces Cooling Trend Amid Wage Growth Decline. The UK has faced a drop in job vacancies for 12 straight months, while the number of available job candidates rises, particularly for temporary roles. This growing labor supply could ease recruitment pressures for some firms, allowing hiring without pushing up wages. Nevertheless, the recent £40 billion tax measures, including higher social security and minimum wage hikes, could deter hiring and expansion, affecting labor-intensive sectors.

🌿 Green Skills Map 

HolonIQ has launched the Green Skills Map, an open-source framework initiated to catalog, evaluate, and context components of the rapidly expanding field of green jobs. This comprehensive taxonomy will serve as a resource for understanding the full spectrum and complexity of green skills required across various sectors, thereby enabling a cohesive approach toward achieving net zero and decarbonizing the global economy. Green Skills Map spans 11 areas, 54 sub-areas, and 243 green skills clusters. A snippet of the map covering four areas has been included above. Explore the full map on greenskills.org.

🌎 Climate 

👷 IEA Report: 16 Million New Clean Energy Jobs Boost Transition in 2024. The IEA's 2024 report reveals clean energy jobs surged by 16 million since 2019, reaching 75 million globally. Solar and wind sectors lead growth, notably in Asia and the US, underscoring clean energy’s resilience amid complex geopolitical and supply chain challenges. The report identifies over half of the new roles in emerging economies, reinforcing their critical role in achieving the global energy transition.  

🏢 Jobs for the Future Awards $5M for US Workforce Equity Projects. Jobs for the Future (JFF) has awarded nearly $5 million to US-based organizations focused on improving workforce equity. This funding supports initiatives creating inclusive career pathways in fields like information technology, especially for marginalized communities. With grants dispersed across multiple states, JFF aims to reduce educational and employment disparities, fostering economic mobility.

🪫 Adani Group Pledges $10 Billion for US Energy Infrastructure Projects. India’s Adani Group has committed $10 billion to advance US energy security and infrastructure, with plans to create up to 15,000 jobs. This investment encompasses a range of projects aimed at bolstering energy resilience and enhancing infrastructure, showcasing Adani’s strategic confidence in the American market. The initiative aligns with broader US priorities to drive economic growth through strengthened energy systems and essential infrastructure development across key regions.

🚀 Space

🌌 SpaceCareers.uk, backed by the UK Space Agency’s 'Space for All' fund, has launched ‘UK Space 101’. This will introduce school students to space careers and show the demand for varied skills from other sectors. Since its founding in 2015, SpaceCareers.uk has connected jobseekers with the UK’s growing space industry, which employs over 50,000 people across 1,800 companies, contributing $25B  to the economy. The director says UK Space 101 will help teachers, parents, and students explore the sector’s everyday impact and job opportunities.

📱 Advanced Technology 

📊 The UK government has announced an investment of $636.4M to fund over 4,700 postgraduate degrees in science and technology across 45 universities, aiming to address a national shortage of digital and technical skills. Led by the Department for Science, Innovation, and Technology, the initiative seeks to drive economic growth by producing skilled graduates in high-demand fields like biology and engineering. Education Secretary Bridget Phillipson emphasized universities’ role in economic recovery, with this funding set to boost the workforce in technology, clean energy, and sustainable industries.

💻 Black Veterans for Social Justice (BVSJ), a Brooklyn nonprofit, has partnered with Microsoft to offer technology training to over 5,000 veterans. As part of Microsoft’s Nonprofit Tech Acceleration for Black and African American Communities, the initiative aims to equip veterans with digital skills in fields like cybersecurity, AI, and game development. Beginning in December 2024, Microsoft will host bi-weekly virtual sessions, with BVSJ tailoring the curriculum based on veterans' career interests. The program includes a pathway to Microsoft’s Software and Systems Academy, with applications open in early 2025.

🤖 Samsung India certified 3,500 students in 2024 through its Samsung Innovation Campus (SIC), aligned with #SkillIndia and #DigitalIndia initiatives. Focusing on skills in AI, IoT, Big Data, and Coding, SIC expanded from 3,000 students in 2023 and held 12 certification events across multiple states. Participants completed extensive training hours, and top achievers will receive INR 1 Lakh and Samsung products, with select students visiting Samsung’s Delhi NCR facilities. This initiative reflects Samsung’s commitment to building India’s tech talent and supporting future innovators.

🩺 Health

🩺 Healthium Medtech Partners with HSSC to Enhance Healthcare Workforce under "Skill India" Initiative. Healthium Medtech, a global medical device company, has entered into a Memorandum of Understanding (MoU) with the Healthcare Sector Skill Council (HSSC), a non-profit organization backed by the Confederation of Indian Industry (CII) and the National Skill Development Corporation (NSDC). This partnership aligns with the "Skill India" initiative, which seeks to strengthen India’s workforce. Together, the organizations plan to develop training programs for healthcare professionals and is set to conduct continuous training sessions year-round to improve the skills of the healthcare workforce.

👨‍⚕️ Delhi Strengthens Healthcare System with Major Recruitment of Nurses and Paramedics. The Delhi government has approved hiring 1,463 healthcare professionals, including 701 nurses and 762 paramedics, to strengthen the city's healthcare system. This decision comes as part of efforts to address staffing shortages highlighted by the Dr. S K Sarin Committee, following a directive from the Delhi High Court to improve healthcare services. The recruitment will be facilitated under relaxed regulations, allowing hospitals to hire through public sector undertakings to reduce the burden on existing medical staff.

🩹 HEI and US Consulate Partner to Equip Nigerian Youth with Life-Saving Emergency Skills. This initiative addresses the rising concerns of cardiovascular diseases and road traffic accidents, aiming to shift the culture from passive bystanders to active responders in emergencies. By training cohorts in various regions, the partnership seeks to enhance Nigeria's emergency response capabilities and create lasting systemic change in public health safety.

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