The employment within the Manufacture of Electrical Equipment sector in Sweden has shown a consistent decline over the past decade. From 2013 to 2023, the number of full-time equivalents decreased from 22.95K to 17.18K, indicating a negative trend. Notably, the employment figure for 2023 stood at 17.18K. The last two years witnessed year-on-year declines of 3.13% in 2022 and 3.2% in 2023. Over the past five years, the compound annual growth rate (CAGR) stood at -2.89%, reflecting a persistent decrease in employment.
Looking ahead, forecasted data from 2024 to 2028 predict continued contraction, with an expected annual decrease of -2.79% CAGR, resulting in a further 13.19% reduction by 2028. This long-term trend signals potential structural issues within the sector.
Future trends to watch for:
- Impact of automation and digitalization on labor needs
- Shifts towards sustainable energy equipment production
- Potential reskilling initiatives for workforce adaptation
