In 2023, the labor cost per employee FTE in Italy's leather products sector stood below 49.2 thousand euros. As of 2024, projections show a steady annual increase in costs, reaching 52.6 thousand euros by 2028. This reflects a consistent year-on-year growth rate, suggesting increased labor expenses within the industry over the five-year span. The compound annual growth rate (CAGR) highlights an average yearly growth around 1.68%, indicating sustained upward pressure on labor costs.
Future trends to watch include:
- Impact of automation and technology on labor costs.
- Influence of economic policies on salary trends.
- Shifts in global supply chains affecting local labor demand.
