The forecast for the UK's Textiles, Wearing Apparel, Leather Products Manufacturing Sector indicates a consistent decline in employment from 2024 to 2028. In 2023, the sector's workforce stood at approximately 69.3 thousand workers. Observing the forecasted numbers, there's an annual average decrease of about 2% in employment, translating to a Compound Annual Growth Rate (CAGR) of approximately -3.0% over the five-year period from 2024 to 2028.
Future trends to watch for:
- The impact of automation and technological advancements on labor demand.
- Shifts in global trade policies affecting the UK textile industry.
- Potential growth in sustainable and ethical fashion sectors driving niche job increases.
- Changes in consumer behavior favoring local production post-Brexit.
