In 2023, wages and salaries in the UK's basic iron, steel, and ferro-alloys sector stood at a certain baseline value. Moving forward, the forecast from 2024 to 2028 indicates a steady annual increase, with values expected to rise from 942.5 million euros in 2024 to 952.4 million euros by 2028. The year-on-year growth rate appears modest, maintaining an upward trend, reflective of stable industry demand and cost adjustments. The compound annual growth rate (CAGR) over this five-year span highlights long-term stability with a consistent upward trajectory.

Future trends to watch for:

Potential impacts of global steel demand fluctuations.
Influence of economic policies, such as trade tariffs and environmental regulations.
Technological advancements in steel production affecting labor costs.