The wages and salaries within the textiles and wearing apparel sector in France are forecasted to experience a steady decline over the next five years. In 2023, the sector stood at approximately 2.05 billion Euros. By 2024, it is expected to slightly decrease to 2.02 billion Euros and continue declining annually, reaching 1.88 billion Euros by 2028. The year-on-year variations indicate a consistent diminishing trend, with projected decreases of around 1.49% per annum. The compound annual growth rate (CAGR) over this five-year forecast period is approximately -1.49%.
Future trends to monitor include:
- Potential impacts of automation and technological advancements on labor demand in the sector.
- Changes in consumer demand and sustainability trends influencing wage structures.
- Policy changes at the European level that may impact labor costs and employment strategies in the textile and apparel industries.
