The wages and salaries in the IT services sector in Sweden have shown consistent growth from 2013 to 2023, with a notable peak in the year-on-year growth of 18.91% in 2015. This growth has become more moderate over the years, culminating in a 4.05% increase in 2023, where the value stood at 97.89 billion Swedish Kronas.
Over the last two years, the wage growth rates were 4.26% in 2022 and 4.05% in 2023, indicating a slightly decreasing trend. The Compound Annual Growth Rate (CAGR) over the last five years has averaged at 5.6%.
Going forward, the forecast indicates a gradual slowing of growth, with a predicted five-year CAGR of 2.74%, resulting in an overall 14.46% rise by 2028.
Future trends to watch for:
- Potential impacts of economic fluctuations and inflation on wage growth
- The effect of increasing automation and AI on employment and wage levels
- Shifts in demand for specific IT skills and their influence on salary variations
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