In 2023, the number of employees in Brazil's support activities for the oil and gas extraction sector was approximately 17.65 thousand. Forecasts for the years 2024 to 2028 show a consistent decline in employment figures. The projected year-on-year reductions indicate a downward trend, with employment expecting to fall by around 4% annually during this period. Calculating the Compound Annual Growth Rate (CAGR), the employment rate is set to decrease by an average of 5% per year over the five-year span.
Future trends to watch for include:
- Technological advancements potentially reducing labor requirements.
- Market fluctuations affecting sector investment and operational scales.
- Environmental and regulatory shifts that might impact industrial operations and employment dynamics.