The graph shows a clear inverse relationship between the demand for steel and employment levels in the steel industry over the year.
Overall, steel production fluctuated throughout the year before falling sharply at the end of the period, while actual demand generally followed a similar but lower pattern. Meanwhile, the number of workers employed showed a steady downward trend despite some minor fluctuations.
In January, steel production stood at around 4,000 million tonnes, rising to a peak of 5,000 million tonnes in March. After this, the figure gradually declined and remained close to 4,000 million tonnes until August. Production then increased again to about 4,500 million tonnes in September before dropping significantly to just 1,000 million tonnes in December in addition,The actual demand for steel started lower, at approximately 2,000 million tonnes, and climbed steadily to reach nearly 3,500 million tonnes in June. However, it fell again to about 2,000 million tonnes in August and fluctuated slightly before ending the year at around 2,500 million tonnes.
Regarding employment, the number of workers began at 5,000 and increased to roughly 5,500 in February. After that, it dropped sharply to 3,000 in April. Although the figure experienced small rises and falls – peaking at around 3,500 in August – the overall trend was downward, ending the year at only 1,000 workers.