The Manufacture of Basic Iron and Steel Sector in Germany experienced fluctuating employment trends from 2013 to 2023. In 2023, the sector employed 122.52 thousand full-time equivalents (FTE), experiencing a slight decline from the previous year. The sector saw notable variation, with significant increases such as a 6.93% rise in 2018 and declines like the -4.66% drop in 2020. Over the last two years, employment decreased marginally by approximately 0.23% annually. The five-year CAGR leading up to 2023 is -1.27%, showing a general downward trend.
Future forecasts indicate a continual decline in employment, with an estimated 121.14 thousand FTE in 2028. This points to a -0.18% CAGR over the next five years, reflecting a slight but consistent contraction in employment.
Future trends to watch for include:
- Technological advancements and automation impacts in the sector.
- Global demand fluctuations for iron and steel products.
- Environmental regulations influencing manufacturing practices and employment.
