Forecast: Employees in Financial Service Activities Sector in Italy

The financial services sector in Italy has been experiencing a steady decline in employment over the past decade. In 2023, the number of employees stood at 311.9 thousand, representing a year-on-year decrease of 1.27%. Over the previous two years, employment fell by 1.28% in 2022 and 1.75% in 2021, reflecting a continued dip in workforce numbers. The CAGR from 2019 to 2023 was -0.86%, reflecting an average annual decline in employment numbers at a moderate rate. Future projections indicate an ongoing downward trend, with employment expected to reduce by a CAGR of -1.05% from 2024 to 2028, translating to a 5.16% decrease over this period.

Future trends to watch for in the financial services sector include:

• Automation and digital transformation, potentially reducing the need for human labor.
• The impact of regulatory changes on employment dynamics.
• Economic conditions and their influence on the demand for financial services.
• Shifts in customer preferences and behaviors, driving the need for new skill sets.