The forecasted number of self-employed persons in Canada's crop and animal production sector is projected to decline steadily from 144,000 in 2024 to 132,000 by 2028. This trend indicates an annual decrease, with the workforce shrinking by approximately 2.1% year-on-year. Over the last two years, the variation was significant, and the compound annual growth rate (CAGR) over this five-year period is anticipated to be negative due to consistent declines.
Future trends to watch include:
- Technological advancements potentially reducing labor necessity.
- Impact of environmental policies on agricultural operations.
- Changing market dynamics and consumer preferences possibly affecting demand for agricultural products.
