In 2023, the labor costs in the US air transport industry were below the forecasted $70.82 billion for 2024. The data indicates a continual year-on-year increase in labor costs: 2.29% from 2024 to 2025, 2.21% from 2025 to 2026, and 2.11% from 2026 to 2027, with a similar rise forecasted for 2028. The compound annual growth rate (CAGR) from 2024 to 2028 suggests an average annual increase of around 2.17% in labor costs.
Future trends to watch for:
- Technological advancements potentially impacting labor dynamics.
- Economic factors influencing workforce demands and wage negotiations.
- Regulatory changes affecting labor cost structures in the industry.
