In 2023, the number of persons employed in Brazil’s iron ore mining sector stood at an estimated 77.2 thousand, which serves as the baseline for our projected forecasts. From 2024 to 2028, the employment in this sector is expected to grow steadily, reaching 82.91 thousand by 2028. Year-on-year growth rates from 2024 to 2028 suggest a gradual increase, with the sector witnessing an expansion in workforce driven by demand and production rates. The compound annual growth rate (CAGR) over these five years is projected to demonstrate moderate upward momentum, reinforcing the sector's positive employment trajectory.
Trends to watch for in the future include technological advancements and automation, which could influence employment needs. Additionally, shifts in global demand for iron ore, environmental regulations, and investment in sustainable mining practices are crucial factors that could impact employment levels in Brazil's iron ore industry dramatically.
