This paper examines the consequences of a policy-driven transition towards a more resource-efficient and circular economy on employment levels across countries and sectors during the period 2018-2040. The analysis relies on simulations with ENV-Linkages, the global structural computable general equilibrium model of the OECD Environment Directorate. The results suggest that the overall reallocation of jobs due to a fiscal policy package promoting resource efficiency and the transition to a circular economy is limited to 18 million jobs in 2040 and net job creations are marginal, with 1.8 million of jobs.