The employment in the Wearing Apparel sector in Switzerland stood at 2.87 thousand FTEs in 2023. From 2024 onwards, the figures are forecasted to decline consistently each year, with a year-on-year decrease of approximately 4.12% from 2023 to 2024, 4.12% from 2024 to 2025, 3.91% from 2025 to 2026, 4.47% from 2026 to 2027, and 4.26% from 2027 to 2028. Over a five-year period, the Compound Annual Growth Rate (CAGR) indicates an average annual decline of around 4.18%.
Future Trends to Watch For:
- Automation and technological advancements reducing the need for manual labor.
- Shifting global trade patterns affecting local employment.
- Increased competition from low-cost manufacturing countries.
- Potential for sector consolidation and vertical integration.
