The jewellery sector's hours worked in Germany have shown considerable variation between 2013 and 2023. Actual data indicates fluctuations, with a low in 2014 and peaks in 2015, 2016, and especially in 2019, followed by a sharp decline in 2020, likely due to the COVID-19 pandemic. A recovery trend is observed from 2021 onward, with a modest increase seen in 2023, registering 14.543 million hours.
Recent year-on-year variations reveal growth:
- 7.85% increase in 2023
- 14.34% growth in 2022
- 14.8% uptake in 2021
Looking forward, forecasted data from 2024 to 2028 indicates a slight decrease in hours worked, with a gently declining 5-year CAGR of -0.81%. Key trends to monitor include the potential impact of digital transformation and automation on the industry's labor requirements.
