The employment in the US Iron and Steel industry has seen a fluctuating yet generally declining trend from 2013 to 2023. In 2023, the employment stood at 190 thousand units, down from 218 thousand units in 2013. There were several years of modest growth, such as 2018 and 2019 with 3.65% and 2.51% increases respectively. However, these were offset by more significant declines, notably in 2016 with an 8.02% decrease.
The forecast from 2024 to 2028 predicts a continuous decline in employment. Year-on-year decreases are expected, with the 5-year CAGR forecast indicating a -1.09% average variation per year. By 2028, employment is projected to drop to 177 thousand units, reflecting a 5.35% reduction from 2023 levels.
Future trends to watch for include advancements in automation, shifts in global steel demand, potential policy changes regarding trade and labor, and the industry's adaptation to sustainable practices. These factors could significantly influence employment patterns in the Iron and Steel sector.
