The wages and salaries of legal services in Sweden have shown fluctuating growth over the past decade. From 2013 to 2023, the sector experienced periods of both decline and growth. The highest year-on-year increase occurred in 2020 with 8.77%, while 2021 saw a notable decline of -3.16%. As of 2023, the value of wages and salaries stood at 769.4 million euros, marking a steady rise compared to the previous year.
Key variations:
- 2013: 1.4%
- 2014: -1.32%
- 2015: 0.78%
- 2016: 3.97%
- 2017: 4.58%
- 2018: -0.29%
- 2019: 0.9%
- 2020: 8.77%
- 2021: -3.16%
- 2022: 1.05%
- 2023: 0.9%
Over the last five years, the compounded annual growth rate (CAGR) has been relatively modest, averaging 1.62%. Forecasts for the next five years indicate a slower growth trajectory with a forecasted CAGR of 0.45% and an estimated growth rate of 2.28% by 2028.
Future trends to watch for include potential shifts in demand for legal services due to economic conditions, regulatory changes, and technological advancements. Monitoring productivity gains from automation and AI in legal work could also impact wages and salaries in this sector.
