The US Agricultural Products and Livestock Sector employed 815 thousand workers in 2023. Examining the historical trends from 2013 to 2023, the sector experienced varying growth rates. Between 2013 and 2015, there was a steady increase, but from 2016 onwards, the number of jobs showed little to no growth, even registering slight declines at some points. Over the last two years, the sector witnessed a modest uptick, with year-on-year variations of 0.37% in 2022 and 0.12% in 2023. Overall, the Compound Annual Growth Rate (CAGR) for the five years leading to 2023 stood at a marginal 0.025%.
Looking ahead, the forecasts suggest a stagnation in job growth, with the number of employees expected to plateau around 817 thousand through 2028. This translates to an average yearly growth rate of just 0.02% moving forward.
Future trends to watch for include advancements in agricultural technology, changes in labor policies, evolving market demands, and potential impacts from climate change-related factors. Understanding these elements will be pivotal in assessing the sector's labor dynamics going forward.
