The number of employees in the warehousing and storage sector in the UK has exhibited significant fluctuations from 2013 to 2023. In 2023, the sector employed 222.05 thousand individuals, reflecting a stable but slow growth in recent years. Notably, 2020 and 2021 saw modest year-on-year increases of 2.81% and 2.68%, respectively. The compounded annual growth rate (CAGR) over the past five years highlights a pattern of gradual expansion.
Key Trends:
- 2013-2023: From 2013 to 2016, the sector experienced erratic growth, with 2016 registering a peak increase of 58.19%, followed by a temporary contraction in 2017.
- 2018-2023: Post-2017, the sector regained stability, marked by modest year-on-year growth, leading up to the 2023 figure which shows a steady climb in numbers.
Future Trends to Watch For:
- Growth Rate: The forecasted CAGR from 2024 to 2028 is 1.68%, indicating a conservative growth trajectory.
- Technological Advancements: Increased automation and implementation of AI and robotics could reshape workforce requirements.
- Supply Chain Dynamics: Ongoing globalization and e-commerce expansion may drive the need for a larger and more skilled workforce.