Forecast: Wages and Salaries in Non-Metallic Mineral Products in Austria

Wages and salaries in the non-metallic mineral products sector in Austria stood at 1.53 billion Euros in 2023. Historical data indicates a general upward trend since 2013, with year-on-year variations showing both growth and decline. Between 2021 and 2022, the industry saw a year-on-year increase of 1.36%, followed by a further 1.3% increase in 2023. The 5-year compound annual growth rate (CAGR) leading up to 2023 averaged at 1.32%.

Future predictions suggest steady, albeit moderate growth with a forecasted 5-year CAGR of 0.88% through to 2028. The overall forecasted growth rate for the next five years stands at 4.47%.

Trends to watch for in the future include:

• Inflationary pressures potentially affecting wage growth
• Technological advancements driving industry changes
• Regulatory changes impacting labor costs