The employment in the Wholesale of Machinery, Equipment, and Supplies sector in Spain has demonstrated fluctuating trends over the past decade. From a high of 158.1 thousand full-time equivalents (FTEs) in 2018, the sector experienced a nearly continuous decline, reaching 149.94 thousand FTEs by 2023. A year-on-year variation of -0.84% in 2023 reflects the sector's ongoing downward trend. The compound annual growth rate (CAGR) over the last five years is -1.05%, indicating a consistent but modest decrease in employment.
Forecasts suggest that this decline will continue, with employment expected to fall to 143.28 thousand FTEs by 2028. This represents a 5-year forecast CAGR of -0.72%. The forecasted growth rate indicates a further reduction of approximately 3.54% over this period.
Future trends to watch for:
- Automation and technological advances may further reduce the need for workforce in this sector.
- Economic recovery post-pandemic and potential government policy changes could influence employment rates.
- Global supply chain disruptions and shifts in manufacturing hubs might affect sector dynamics.
