The World Economic Forum isn't quite right here

Technology and slow economic growth will destroy 14 million jobs around the world by 2027 with secretaries and bank workers facing the biggest losses, economists have warned.

Nearly a quarter of jobs around the world will change in the next four years as tech and the green transition disrupt labour markets, according to new research by the World Economic Forum.

Well, yes, that will happen.

Digitisation will also create massive labour market churn. Nearly half of an individual worker’s skills will need to be updated for the modern labour force.

In the UK, more than a fifth (21pc) of all jobs will change. This will be slightly lower than the 23pc global average.

That too. But the not quite right bit is to think that this is anything unusual. When, in fact, this always happens. This is just normality.

The bit that people forget. Some 10% of all jobs in the economy - so, for Britain, about 3 million - are destroyed each year. Some 10% of all jobs are newly created each year too. Unemployment is the stock of people who get stuck in that state as part of that flow.

So, over the 4 years to 2027 we expect 40% of all British jobs to disappear and be recreated. That’s just normality.

This is also how technological change happens - each new job is going to be slightly different from each old one. It’s not that people leap from being a bank worker to a ballet dancer, but that each job change will be a modest shift - which might well result in one less bank worker and one more ballet dancer but it will be the whole process that achieves that, not one single jete from the counter to the stage.

So the WEF is correct, this is going to happen, but not quite right in that they seem to think it’s anything other than business as entirely usual.