In 2023, the employment in the UK manufacture of electronic components and boards sector stood at 18.50 thousand full-time equivalents. The forecast for 2024 predicts a slight decline to 18.03 thousand, continuing a downward trend through to 2028, where employment is expected to reach 16.37 thousand. The year-on-year variation showcases a consistent decline, with approximately a 2.4% decrease per annum from 2024 to 2028. Over the five-year period, the compound annual growth rate (CAGR) is expected to be negative at around -2.44%, indicating a sustained contraction in workforce levels.
Future trends to watch for include technological advancements driving automation and efficiencies in production, potentially reducing headcount. Additionally, economic factors such as trade policies and supply chain disruptions could further impact employment levels in the sector. Businesses may need to invest in reskilling existing employees to adapt to technological changes and maintain competitiveness.
