The employment in the US leather products industry is expected to show a declining trend from 2024 to 2028, with the number of full-time equivalent (FTE) jobs decreasing annually. Starting from 21.0 thousand units in 2024, it is forecasted to drop to 17.0 thousand units by 2028. Comparing this to the employment figure in 2023, which stood at 22.0 thousand units, we observe a consistent downward movement. The year-on-year percentage variation reveals a decline of roughly -4.8% from 2024 to 2025, -5.0% from 2025 to 2026, -5.3% from 2026 to 2027, and -5.6% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately -5.2%, indicating a steady reduction each year over this period.
Future trends to watch for in the leather products industry include the impact of automation and technological advancements on workforce requirements, shifts in consumer preferences towards synthetic alternatives, and changes in trade agreements that could affect production costs and employment levels. Sustainability trends and rising environmental concerns may also significantly influence industry dynamics and labor demands.
