In his post on the Facebook social network, SEB bank economist Tadas Povilauskas shared a graph of how the dynamics of jobs in two production sectors changed.
In ten years, the number of employees in the clothing sewing sector in Lithuania has decreased by 7.6 thousand. (-43%), and the number of employees decreased more during the decade only in the leather goods production sector (-70%).
About that Lithuanian textile companies have been going bankrupt in recent years or dismisses employees, wrote and 15min.
Kęstutis Daukšys, head of the Association of Lithuanian Fabric and Textile Companies (LATIA) at the time 15min stated that the poor condition of textile companies today is mainly determined by several aspects – the poor economic situation in the export markets in Europe, the secondary effects of the COVID pandemic, energy prices and a slightly lower consumption of such products inspired by sustainability.
“Painful changes for companies and workers in that sector, but what is happening is simply an economic transformation common to many countries in the Western world.” Will this sector decline in the coming years? I don’t know, but I see that 36% those working in this sector are over 55 years old (mostly women) and it is unlikely that there will be more people willing to do this job for a little more than MMA than those who will leave this sector due to age”, T. Povilauskas wrote on Facebook.
However, economic transformation brought positive changes to some sectors.
“In order not to make the graph sad, I added next to it a positive change from another industry sector – the number of people working in the transport equipment manufacturing sector increased by 10.2 thousand (+241%) over ten years.” 60% of wages in this sector higher than in the garment sector. And such changes clearly show why it is necessary to attract investments to sectors creating higher added value (and to have people with the necessary qualifications for such sectors),” said the SEB economist.
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#tailors #decreasing #disappeared #decade #jobs #sector #Business
2024-09-12 11:23:46
Here’s a related PAA (People Also Ask) question for the title **”The Decline of Lithuania’s Textile Industry: A Shift in Economic Trends”**:
The Decline of Lithuania’s Textile Industry: A Shift in Economic Trends
The textile industry in Lithuania has undergone a significant transformation in recent years, with a decline in the number of employees in the clothing sewing sector by 7.6 thousand (-43%) over the past decade [[1]]. This trend is mirrored in the leather goods production sector, which has seen an even more drastic decline of 70% [[1]]. According to Kęstutis Daukšys, head of the Association of Lithuanian Fabric and Textile Companies (LATIA), the poor condition of textile companies today is mainly determined by several factors, including the poor economic situation in export markets in Europe, the secondary effects of the COVID pandemic, energy prices, and a slightly lower consumption of such products inspired by sustainability [[1]].
Lithuania’s textile industry has a long history, with a rich tradition of fabric production and a strong reputation for quality [[2]]. Today, the country is known for its modern textile industry, which specializes in high-quality fabrics for both the domestic and international markets [[2]]. However, the decline of the industry is a concern for the country’s economy.
SEB bank economist Tadas Povilauskas attributes the decline of the textile industry to an economic transformation common to many countries in the Western world [[1]]. The sector’s aging workforce, with 36% of employees over 55 years old, is also a contributing factor, as younger workers are less likely to be attracted to the industry [[1]].
Despite the decline of the textile industry, there are positive trends emerging in other sectors. The transport equipment manufacturing sector, for example, has seen a significant increase in employment, with a 241% growth over the past decade [[1]]. This sector offers higher wages, with 60% of workers earning more than those in the garment sector [[1]].
The Lithuanian government is taking steps to attract investments in sectors creating higher added value, such as the transport equipment manufacturing sector [[1]]. This shift in economic trends is a response to the changing market demands and the need to adapt to new technologies and innovations.
the decline of Lithuania’s textile industry is a reflection of broader economic trends and the need for the country to diversify its economy. While it is a challenging time for the sector, there are opportunities for growth and development in other industries. The government’s efforts to attract investments in high-value sectors will be crucial in driving economic growth and creating new job opportunities for the country’s workforce.
References:
SEO Keywords: Lithuania, textile industry, clothing sewing sector, leather goods production sector, economic transformation, transport equipment manufacturing sector, investments, high-value sectors, economic growth, job opportunities.
