The number of employees in the Textiles, Wearing Apparel, and Leather Products industry in Austria saw a steady decline from 19.5 thousand in 2013 to 11.29 thousand in 2023, representing a significant reduction over a decade. The last reported year-on-year decline for 2023 was -6.99%, with the Compound Annual Growth Rate (CAGR) over the past five years standing at -6.69%.
The forecast suggests this downward trend will continue, with the employee numbers projected to drop further to 6.86 thousand by 2028, at a forecasted 5-year CAGR of -7.91%. The industry is projected to contract by 33.77% over this period.
Future trends to watch for:
- Automation and digitalization trends impacting employment levels.
- Shifts towards sustainable and ethical fashion influencing workforce requirements.
- Global trade dynamics and supply chain adjustments in the post-pandemic era.