In 2023, wages and salaries in the US textiles and wearing apparel sector stood at $14.16 billion. From 2024 onward, forecasts predict a steady decline, with values decreasing to $13.17 billion by 2028. This equates to an average year-on-year decrease of approximately 2% over the five-year period, resulting in a CAGR of -1.44%.
Trends to watch in this sector include the impact of automation and offshoring, which may accelerate wage declines. However, sustainability trends and regulatory impacts could counterbalance by stimulating demand for skilled labor.
