As of 2023, the labor cost per employee full-time equivalent (FTE) in the furniture manufacturing sector in Germany was below the forecasted €47,000 mark. The series forecasts growth in labor costs from 2024 (€47.0k) to 2028 (€49.2k), indicating a steady upward trend. Year-on-year, this represents an average increase of approximately 0.5-1.2%. The cumulative compound annual growth rate (CAGR) from 2024 to 2028 is projected to be around 1% annually, highlighting modest but consistent cost growth.
Future trends to watch for include potential impact from automation and digitalization on labor costs, potential labor shortages affecting wages, and economic shifts, such as inflation, which could alter projected figures.
