The forecast for labour costs in the US electricity, gas, steam, and air conditioning supply sector from 2024 to 2028 shows a steady increase. Starting at $90.3 billion in 2024, costs are expected to rise to $96.03 billion by 2028. In 2023, actual costs stood at approximately $89 billion.
Year-on-year growth for 2025 is forecasted at 1.64%, with subsequent annual increases of 1.58% for 2026, 1.52% for 2027, and 1.47% for 2028. Over this five-year period, the compound annual growth rate (CAGR) will average around 1.5%.
Future trends to monitor include the impact of technological advancements, regulatory changes, and shifts in energy consumption patterns. These factors could influence labor demand and costs within the sector, potentially leading to either accelerated growth or savings opportunities.
