In 2023, the hours worked in the Basic Iron, Steel, and Ferro-Alloys sector in Germany was the basis for forecasting data from 2024 onwards. The forecast indicates a steady annual increase in hours worked, from 114.4 million hours in 2024 to 116.93 million hours in 2028. This represents a gradual annual growth, with a Compound Annual Growth Rate (CAGR) reflecting consistent sector expansion through the forecast period.
Future trends to watch for:
- Impact of technological advancements on labor efficiency.
- Potential policy changes related to environmental regulations affecting the industry.
- The influence of global steel demand on labor hours in Germany.