The data shows that hours worked in the Austrian jewellery and bijouterie sector have generally declined over the years, starting at 1.7991 million hours in 2013 and reaching 1.5788 million hours in 2023. While there was noted recovery post-2019, including a significant drop in 2020 due to the COVID-19 pandemic, the overall trend remains a decline. The year-on-year variations highlight minor fluctuations with a notable spike of -15.15% in 2020 and subsequent rebounds, with 2023 exhibiting a slight 1.65% increase. The compound annual growth rate (CAGR) over the last five years was -0.5%.
Looking forward, the forecast indicates a continued decline, with the hours worked projected to reach 1.4677 million by 2028, representing a 5.68% decrease from 2023 and a 5-year CAGR of -1.16%. Future trends to monitor include technological advancements in manufacturing, shifts in consumer demand, and potential economic impacts from global market changes.
