The period from 2013 to 2023 shows significant volatility in the number of hours worked in the jewellery sector in the Netherlands. The highest value was observed in 2013, at 773.66 thousand hours, followed by a series of declines and sporadic increases. For instance, 2017 and 2018 saw improvements with increases of 17.82% and 6.78% year-on-year, respectively. However, notable drops occurred in 2019 and the following years, with a 23.91% decrease in 2019 and a consistent decline from 2020 onwards, leading to 573.48 thousand hours in 2023.
Year-on-year variations:
- The years 2022 and 2023 both saw declines, with -1.81% and -1.82%, respectively.
- The CAGR over the last five years from 2018 to 2023 shows an average decline of -5.38% per year.
Forecasts indicate a continued downward trend, with the number of hours expected to reduce to 521.83 thousand by 2028, reflecting an anticipated average yearly decline (CAGR) of -1.51% over the next five years.
Future trends to watch for:
- The impact of automation and technological advancements on reducing manual labour.
- Shifts in consumer preferences towards customized and ethically sourced jewellery, potentially affecting production practices.
- Global economic factors and their influence on the luxury goods market, impacting the demand for jewellery and subsequently, labour hours.
