The total hours worked in the US iron and steel sector are projected to decline from 389 million hours in 2024 to 366 million hours in 2028. Compared to the 2023 baseline, this represents a noticeable downward trend. Year-on-year, the hours worked are expected to decrease consistently by approximately 1.5%-2%. Over a five-year span, the compound annual growth rate (CAGR) suggests a decline of around 1.2% annually.

Future trends to watch include:

Technological advancements leading to automation, potentially impacting labor hours.
Global economic factors and trade policies affecting the demand for US iron and steel.
Renewable energy shifts, influencing the industry's structure and employment needs.