The employment in the manufacture of Electrical Equipment sector in the UK has shown significant fluctuations over the past decade. Starting from 82.26 thousand in 2013, it experienced peaks and troughs with a general declining trend. Notably, there were significant drops in 2016 (-12.01%), 2018 (-15.61%), and 2020 (-18.27%). The sector saw some recovery during 2021 (18.65%) but continued its downward movement in the following years. By 2023, employment stood at 69.21 thousand, showing a recent annual decline of about -1.51% and a 5-year average variation (CAGR) of -0.69%.
From 2024 onwards, forecasts indicate a continued decline in employment with an average annual decrease (CAGR) of -1.32%, projecting a total decline of -6.42% over the next five years, reaching 63.67 thousand by 2028.
Future trends to watch for include the impact of technological advancements and automation on employment levels, the influence of Brexit on trade and regulatory conditions, and potential shifts towards greener technologies which may either diminish or transform job roles within the sector.
