In 2023, the labor cost per employee full-time equivalent (FTE) in Italy's pulp, paper, and paperboard industry was lower than the forecasted value of 68.6 thousand euros for 2024. The predicted year-on-year increase is consistent over the period, indicating a steady rise in labor costs from 68.6 thousand euros in 2024 to 72.9 thousand euros in 2028. The expected compound annual growth rate (CAGR) over this five-year period is approximately 1.5% per year, reflecting a moderate upward trend in labor expenses.
Looking ahead, potential trends to watch for include:
- The impact of automation and technological advancements on labor costs as companies strive to enhance productivity.
- The influence of economic policies and inflation on wage growth within the industry.
- Shifts in global demand for paper products, especially in light of increasing digitalization and environmental sustainability concerns, which could affect labor demand and costs.
