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illuminem summarizes for you the essential news of the day. Read the full piece on IEA or enjoy below:
🗞️ Driving the news: Global energy employment rose by 3.8% in 2023, adding 2.5 million jobs, driven primarily by clean technology manufacturing, according to the latest IEA World Energy Employment report
• Clean energy sectors, including solar PV, EV manufacturing, and batteries, led job growth, while oil and gas jobs rebounded after the pandemic
• However, labor shortages persist, with 75% of energy employers struggling to fill specialized roles
🔭 The context: The surge in clean energy jobs aligns with a 70% rise in clean energy manufacturing investment, which hit $200 billion in 2023
• Yet, job growth is unevenly distributed, with emerging and developing economies outside China securing only 25% of new clean energy jobs since 2019, highlighting barriers like limited infrastructure and workforce skills
• Skilled worker shortages, especially in areas requiring high specialization, are now a critical challenge in the sector
🌍 Why it matters for the planet: Expanding clean energy employment is essential for transitioning to a sustainable energy future, but the sector’s progress is hindered by skills gaps and uneven global job distribution
• Addressing workforce shortages and boosting employment in emerging economies can accelerate clean energy goals, making the energy transition more equitable and resilient
• Robust skills development is increasingly essential for meeting global clean energy demand and reducing emissions
⏭️ What's next: Early data suggest energy employment may grow by 3% in 2024, though this could slow due to tight labor markets, high interest rates, and shifting project timelines
• The IEA emphasizes that governments, the private sector, and educational institutions must collaborate on workforce development initiatives
• Strengthening global cooperation and targeted policy action will be key to expanding energy job opportunities, especially in developing economies
💬 One quote: “Greater investment in skills and training is critical… Governments, the private sector, and educational and training institutions must work together to improve the hiring pipeline” – Laura Cozzi, Director of Sustainability, Technology and Outlooks, IEA
📈 One stat: Solar PV alone created over half a million new jobs in 2023, marking record growth in the sector
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