The forecasted data for total hours worked in crop and animal production, hunting, and related service activities in the US shows a consistent but modest annual growth from 2024 to 2028, reaching 3.56 billion hours in 2028. This represents a slight increase from previous years, with a year-on-year variation of approximately 0.28% to 0.29% in the forecasted period. As we are in 2024, the forecast indicates a stable industry with slight growth expected over the next five years, as evidenced by a compound annual growth rate (CAGR) just under 0.3%.
Future trends to watch for in this sector include:
- Technological advancements in agricultural practices that may affect labor demands.
- The impact of environmental policies on hunting and related activities.
- Potential changes in consumer preferences towards sustainable and organic products.
- Weather patterns and climate change influencing production cycles and labor needs.
- Economic factors such as labor costs and supply chain developments.