The data reveals that employment in the UK mining and quarrying sector has experienced significant fluctuations over the past decade, culminating in a value of 50.49 thousand FTEs in 2023. Historical data shows notable year-on-year variations such as a peak in 2015 followed by a sharp decline up to 2017, a substantial drop in 2020 with a slight recovery in 2021, and then a steady decline up to 2023. The sector's employment has seen an overall decrease with a CAGR of -1.16% over the last 5 years.
The forecast data indicates a continued decline in employment, with the sector expected to fall to 46.64 thousand FTEs by 2028, reflecting a projected 5-year CAGR of -1.25% and an overall growth rate of -6.12%. This indicates persistent downward pressure on employment levels in this sector.
Future trends to watch for include:
- Technological advancements leading to increased automation and a possible reduction in manpower needs.
- Regulatory changes, particularly those relating to environmental standards and sustainability, potentially impacting operational capacities.
- Global economic factors, such as commodity prices, which could influence the demand for mining and quarrying products.
