In the UK's fluid power equipment sector, labor cost per employee full-time equivalent (FTE) was at 40.7 thousand Euros in 2023. Forecasted data indicates a gradual decline, with the cost per FTE decreasing steadily from 40.5 thousand Euros in 2024 to 40.0 thousand Euros by 2028. Year-on-year variations show a consistent decrease, with an average annual decrease (CAGR) of approximately -0.25% over the five-year forecast period.
Future trends to watch for include:
- The impact of technological advancements that may further influence labor requirements and costs.
- Any potential economic factors or regulation changes affecting labor market dynamics in the fluid power industry.
