Forecast: Number of Employees in Electrical Equipment in the US

In the US electrical equipment sector, the number of employees is forecasted to decline gradually from 390 thousand in 2024 to 385 thousand by 2028. This signals a consistent annual decrease. In 2023, the number of employees stood at 391 thousand, reflecting a slight year-on-year decrease of 0.26% to 2024. From 2025, the year-on-year variation continues with a steady decrease of 0.26% annually, consistent through to 2028. The five-year compound annual growth rate (CAGR) declines around 0.31% annually.

Future trends to watch for:

  • Impact of automation and technological advancements on employment levels.
  • Shifts in global supply chains and their influence on the US electrical equipment industry.
  • Potential policy changes and their effects on sector employment.