The U.S. employment in the clothing sector has seen a significant decline over the past decade. In 2023, employment stood at 67.0 thousand full-time equivalents, a dramatic decrease from 138.0 thousand in 2013. The decline is marked by an annual reduction in employment, accelerating in recent years with a Compound Annual Growth Rate (CAGR) of -9.27% over the past five years. Year-on-year changes have hovered around -10% over the last two years, underscoring sustained industry challenges. Forecasts predict a further steep decline, with a 5-year CAGR of -18.1%, projected by 2028.
Future trends to watch for include:
● Increased automation and technological advancements potentially replacing manual jobs.
● Industry shifts towards sustainable and ethical fashion impacting traditional employment.
● Potential shifts in global manufacturing strategies and supply chain dynamics influenced by geopolitical factors.
