The employment in the manufacture of structural metal products sector in Sweden has experienced a cyclical pattern from 2013 to 2023. Initially, there was moderate volatility with minor fluctuations, highlighted by a notable dip in 2020 likely due to the pandemic. However, the sector showed resilience with subsequent strong rebounds in 2021 and 2022. By 2023, the employment level stood at 14.88 thousand full-time equivalents, marking a 6.6% year-on-year growth. The compound annual growth rate (CAGR) over the last five years (2019-2023) was 4.64%, indicating a steady upward trend despite periodic declines.
For future trends, it is expected that employment will continue to grow moderately with a forecasted CAGR of 1.03% from 2024 to 2028, leading to employment reaching approximately 15.87 thousand full-time equivalents by 2028. This forecast suggests ongoing positive momentum but at a slower growth rate compared to the past few years, reflecting stabilization post-recovery.
Key future trends to watch for include:
- Technological advancements and their impact on labor demand.
- Potential regulatory changes and economic policies affecting the sector.
- Global market dynamics influencing export demand for Swedish structural metal products.
