Employment in the Electrical Equipment sector in France experienced a notable decline from 2013 to 2023. Starting at 84.0 thousand units in 2013, the value dropped to 71.0 thousand units in 2023, which represents a decrease of approximately 1.39% compared to the previous year. The Compound Annual Growth Rate (CAGR) over the past 5 years up to 2023 was -1.35%, indicating a steady downward trend.
In the forecast period from 2024 to 2028, employment is projected to continue its decline, reaching 64.0 thousand units by 2028. The forecast 5-year CAGR is -1.49%, with a total decrease of 7.25% over this period. These statistics suggest a continuing reduction in workforce size, although at a slightly increasing rate compared to the recent past.
Future trends to watch for:
- Automation and technological advancements potentially reducing the need for human labor.
- Shifts in global supply chains and their impact on domestic employment.
- Policy initiatives aimed at revitalizing industry sectors and their capacity to influence employment trends.
- Economic factors and market demand influencing sector growth or contraction.
