The forecasted number of self-employed persons in the crop and animal production sector in the U.S. shows a declining trend from 2024 to 2028, decreasing annually by around 1-2%. In 2023, this number stood at 670,000 persons. Over the five-year period, the compound annual growth rate (CAGR) is negative, indicating an average yearly decline in self-employment in this sector.
Future trends to watch for include:
- Impact of technology and automation on traditional farming roles.
- Shifts towards sustainable and organic farming practices may create new self-employment opportunities.
- Variations in government policies or subsidies that might influence self-employment rates.
- Climate change effects on agriculture may further affect self-employment trends.
