Based on recent data, the employment in the Wearing Apparel sector in Austria stood at 2.25 thousand FTEs in 2023. Starting in 2024, employment is forecasted to decrease year-on-year by approximately 15.53% to 1.99 thousand FTEs. By 2028, the sector is expected to see a significant reduction in workforce, dwindling to 0.787 thousand FTEs.
Year-on-year variations are as follows:
- 2024 to 2025: -15.58%
- 2025 to 2026: -17.86%
- 2026 to 2027: -21.74%
- 2027 to 2028: -27.13%
The five-year compound annual growth rate (CAGR) from 2023 to 2028 indicates an average annual decrease of around 19.38%.
Future trends to watch for include shifts towards automation and digitalization in production, potential for reshoring of manufacturing closer to markets, an emphasis on sustainability, and the impact of trade policies on the global supply chain. The rapid decline in employment may also signal a need for workforce reskilling in other growing sectors.
