Based on the provided data, the wages and salaries in the metal ores mining sector in Brazil stood at 5.43 billion Brazilian Reals in 2023. Over the last two years, there has been a slight decline in values, with a year-on-year percentage change of -0.13% in 2022 and -0.15% in 2023. When analyzing the CAGR over the last five years, it indicates a marginal decrease of -0.6%, suggesting a relatively stable but slightly declining trend.
The historical trend indicates significant fluctuations with periods of sharp declines, particularly noticeable in 2015 and 2017, and notable recoveries in 2018 and 2020. The projections for the future show a stable yet slightly declining trend with a forecasted 5-year CAGR of -0.11% and a forecasted 5-year growth rate of -0.55%, expecting to reach 5.39 billion Brazilian Reals by 2028.
Future trends to watch for include potential impacts of global commodity prices, advancements in mining technology, regulatory changes, and economic factors influencing labor costs in the metal ores mining sector. Additionally, shifting demand for metals used in renewable energy and technology sectors might affect wages and salaries in this industry.