Between 2013 and 2023, the employment in the Manufacture of Motor Vehicles sector in Belgium experienced significant fluctuations. Employment decreased from 16.78 thousand FTE in 2013 to 9.37 thousand FTE in 2023, showing a general downward trend. Notable drops were observed in 2015 (-17.97%), 2020 (-9.31%), and 2021 (-16.83%), while minor recoveries occurred in 2017 (2.34%), 2018 (3.97%), and 2019 (2.31%). However, the overall outlook remained negative with a compounded annual growth rate (CAGR) of -7.5% over the last five years.
Future trends to watch for:
- Continued technological advancements and automation which may further reduce jobs.
- Potential shifts towards electric vehicle manufacturing requiring different skill sets.
- European and global regulatory changes impacting the automotive industry.
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