In 2023, the total hours worked in high R&D intensive activities in the UK stood at approximately 529.65 million hours. The forecast from 2024 to 2028 suggests a slight annual decline in total hours worked, with values decreasing marginally from 529.55 million hours in 2024 to 529.14 million in 2028.
- The year-on-year decrease is quite minor, reflecting a stable situation with an almost negligible decline indicating market maturity or efficiency improvements.
- The compound annual growth rate (CAGR) over the forecasted period, 2024-2028, suggests a non-significant negative trend due to the very gradual decline in hours worked.
Future trends to watch include potential impacts of technological advancements, automation, and policy changes in R&D investments, which could further influence the demand for labor hours in R&D-intensive sectors.
