The Finnish carpets and rugs sector has seen considerable volatility in the hours worked by employees over the past decade. From 2013 to 2023, actual values reveal significant fluctuations, with a notable decrease in total hours in recent years. In 2023, this sector stood at 66.93 thousand hours. The year-on-year change has shown a consistent decline in the past two years, maintaining a negative trend of -2.08%. The Compound Annual Growth Rate (CAGR) reflects an average annual decrease of -2.61% over the last five years, indicating a steady reduction.
Moving forward, the forecasted hours worked from 2024 to 2028 continues to exhibit a declining trend. The forecasted 5-year CAGR is projected at -1.87%, signifying a further reduction in workforce hours. Over this period, the total anticipated decline is approximately -8.99%. Future trends to watch for include the impact of automation, shifts towards more sustainable manufacturing practices, and potential market contractions or expansions that could further influence employee hours in this sector.
