Report: Energy sector dominates the world with 2.5 million new jobs in a year; Growth in other sectors as well
Report: Job growth in the energy sector during 2023 was mainly driven by the manufacturing sector. This change happened because investment in clean energy generation has increased by 70% to $200 billion. That is, companies are increasing investment keeping in mind the demand.
2.5 million new jobs have been created in 2023 due to increased investment in the energy sector worldwide. The energy sector is now providing livelihood to about seven crore people. During this period, there has been an increase of 3.8 percent in jobs in sectors like energy supply, power plants, energy efficiency, and vehicle manufacturing, which is more than the 2.2 percent increase in jobs in other sectors. This information has been given in the new report of the International Energy Agency (IEA).
According to the World Energy Employment Report 2024, the shift to renewable energy is creating many employment opportunities. This sector is now employing more and more people around the world and every year most countries are manufacturing, trading,g and installing renewable energy technologies. 32 percent of the jobs in this sector are held by women. However, the lack of skilled workers in this sector still remains a matter of concern. Jobs have increased in the field of fossil fuels as well as clean energy. In 2023, 1.5 million new opportunities were created in the field of clean energy. Along with this, 9 lakh 40 thousand jobs have also increased in the fossil fuel sector.
In 2023, job growth in the energy sector was contributed majorly by the manufacturing sector. This change happened because of the increase in investment in clean energy construction by 70% to $ 200 billion. That is, the companies are increasing investment keeping in mind the demand. There is a possibility that energy sector jobs may grow by three percent during 2024. However, this is less than last year. This is due to some factors that include a shortage of skilled labor, high interest rates, and proposed changes in energy projects.
According to the IEA, clean energy jobs have risen 4.6% year on year, and all the clean energy sectors are contributing, though solar energy is at the front. More than 5 lakh new employment opportunities were created in the solar energy sector during 2023. The number is expected to grow with more and more countries coming forward to invest in solar infrastructure. The electric vehicle and battery manufacturing sector created 4 lakh 10 thousand new employment opportunities. More than 6 lakh new job creation has occurred in this industry in 2023 in the oil and gas industries. Since the world actually needs more energy, demands for that resource will linger on at least for quite a large number of years.
