The footwear sector in Finland has seen a consistent decline in the number of employees from 2013 to 2023. In 2023, the number of employees stood at 0.584 thousand, reflecting a significant reduction from 1.11 thousand in 2013. Over the past two years, there has been a year-on-year contraction of -8.29% in 2022 and -9.03% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years has averaged -9.25%, indicating a sharp decline.
Looking ahead, the forecast suggests a further decrease, with the number of employees projected to drop to 0.306 thousand by 2028. The forecasted CAGR for the next five years is -10.3%, and the total growth rate over this period is expected to be -41.94%.
Future trends to watch for include technological advancements in manufacturing, potential shifts to more automated processes, and changes in consumer preferences that might influence hiring trends in the sector.
