The hours worked in the sawmilling and planing of wood industry in Austria have experienced various fluctuations. In 2023, the industry stood at 16.35 million hours. Historically, from 2013 to 2023, we see a mixed trend with both growth and decline phases. The most recent years, 2022 and 2023, had a small decline in hours worked by -0.88% and -0.87%, respectively. The compound annual growth rate (CAGR) from the past five years is -0.51%, indicating a slight overall decline in work hours.
Looking ahead, forecasted data suggests a continued, yet moderated, decline. The annual hours worked is expected to progressively decrease, reaching 15.65 million by 2028. The five-year forecasted CAGR is -0.7%, showing a trend of gradual reduction. Over the forecast period, the industry is projected to shrink by -3.44% cumulatively.
Future trends to watch for include technological advancements that may improve efficiency and reduce required labor hours, shifts in demand for wood products, and potential regulatory changes impacting the industry.
