The employment in the basic chemicals sector in Italy has exhibited varied trends over the past decade. From a decrease in employment figures between 2013 and 2014, there was minor volatility until a notable surge in 2017. However, the sector experienced a drastic drop in 2020, likely influenced by external shocks such as the global pandemic. The employment numbers have rebounded since, showing a positive trend from 2021 to 2023, standing at 24.85 thousand Full-Time Equivalent employees in 2023.
Year-on-year variation from 2021 to 2023 highlights a recovery phase, with an 18.02% increase in 2021, 9.93% in 2022, and 6.54% in 2023. The broader five-year CAGR prior to 2023 is relatively modest at 1.71%. Forecasting into 2024 and beyond, the annual average growth rate is projected to be around 0.88%, culminating in a forecasted cumulative growth rate of 4.5% over the next five years with employment reaching 26.27 thousand by 2028.
Future trends to watch for include:
- The impact of technological advancements and automation on employment numbers in the sector.
- Regulatory changes, particularly those related to environmental policies, that could influence employment.
- Global economic conditions and their ripple effects on Italy’s basic chemicals industry.
