The UK Electrical Equipment Manufacturing sector witnessed fluctuating employee hours from 2013 to 2023, demonstrating a general declining trend. In 2013, the sector saw 146.56 million hours, which slightly rebounded in 2015 with an increase of 10.5%. However, a continuous downward trend ensued from 2019 to 2023, with a steep decline particularly evident in 2020 and 2021. By 2023, the sector recorded 120.89 million hours, a significant drop from earlier years. The Compound Annual Growth Rate (CAGR) over the past five years stood at -2.77%, indicative of a persistent contraction in workforce hours.

Future trends to watch for:

The industry is forecasted to continue its decline, with a projected 5-year CAGR of -2.7% leading to a 12.79% drop by 2028.
Technological advancements and automation might intensify the reduction in labor hours required in the sector.
Sustainability initiatives and energy efficiency improvements could shift workforce dynamics, potentially influencing these forecasts.