Forecast: Employment in Textiles, Wearing Apparel, Leather Products in the US

Employment in the US textiles, wearing apparel, and leather products sector has been on a steady decline from 2013 through 2023. The year-on-year variation over this period shows a consistent downward trend, ranging from a 1.26% decrease in 2013 to a 5.94% decrease in 2023. Analysis of the Compound Annual Growth Rate (CAGR) indicates an increasingly negative trend, with the latest 5-year CAGR standing at -5.5%. As of 2023, employment in this sector is at 269 thousand units, reflecting this continued decline.

Forecasts for 2024 and beyond suggest an accelerated reduction in employment, with a forecasted 5-year CAGR of -6.36% and a 28% drop by 2028. This projection indicates a significant ongoing downsizing in the sector's workforce.

Future trends to watch for include:

• The impact of automation and AI on manufacturing processes.
• Shifts in consumer behavior towards sustainable and ethically produced goods.
• Global trade policies and their effects on domestic textile and apparel industries.