In 2023, labour costs in the sectors of electricity, gas, water supply, sewerage, waste management, and remediation activities in Canada stood at CAD 20.25 billion. Forecast data from 2024 to 2028 show a steady increase, with projected values rising from CAD 20.61 billion in 2024 to CAD 22.09 billion by 2028. This reflects a compound annual growth rate (CAGR) of approximately 2.11% over the five-year period. Year-on-year increases indicate a consistent upward trend, signaling the sectors' resilience and growth potential.
Future trends to watch for:
- Technological advancements influencing operational efficiencies.
- Regulatory changes impacting labour costs.
- Potential shifts in workforce demands due to sustainable practices.
- Impact of economic factors like inflation on overall cost structures.
