Forecast: Hours Worked by Employees in Spirits Sector in the UK

The spirits sector in the UK has seen fluctuating trends in hours worked by employees over the past decade. From 2013 to 2015, the sector experienced significant growth in hours worked, with year-on-year increases peaking at 13.65%. Following a decline in 2017, the trend resumed an upward trajectory with modest year-on-year growth rates ranging from 0.59% to 1.39% between 2019 and 2022. As of 2023, the total hours worked stood at 27.359 million hours, reflecting a year-on-year increase of 1.26% and a 5-year CAGR of 1.17%.

Future projections suggest a continued growth in hours worked, with forecasted figures reaching 28.958 million hours by 2028. The spirits sector is expected to show a 5-year CAGR of 0.9%, indicating steady growth. The forecasted 5-year growth rate stands at 4.57%.

Key future trends to watch include evolving consumer preferences, potential impacts of regulatory changes, and advancements in production technology which could influence labor dynamics. Additionally, monitoring economic factors and global trade policies will be crucial in understanding their impact on the sector's labor needs.