In 2023, employment in the Healthcare and Social Work Activities sector in Canada stood at 2.43 million persons. Over the last two years, the sector experienced a year-on-year growth of 1.35% in 2023 following a 0.72% increase in 2022. The five-year compound annual growth rate (CAGR) stands at 2.13%, indicating a robust trend in employment growth within this sector.
Variations over the years show that the sector faced a minor setback in 2020 with a -1.73% decline, largely influenced by the COVID-19 pandemic but rebounded significantly in 2021 with a 7.97% increase. Since then, the growth has stabilized.
Forecasted data from 2024 onwards predicts continuous growth, with the sector projected to reach 2.69 million persons by 2028. The average annual growth rate from 2024 to 2028 is estimated at 1.58%, with an overall 8.14% increase expected over this period.
Future trends to watch for include the impact of an aging population, technological advancements in healthcare, and potential policy changes. These factors are likely to influence both demand and supply of healthcare and social work professionals.
