In 2023, the Veneer, Plywood, and Engineered Wood Product Manufacturing sector in Canada had salaries and wages at 1.27 billion Canadian dollars. Forecasts for 2024 to 2028 demonstrate a consistent annual growth in nominal terms, with values escalating from 1.3155 to 1.4877 billion Canadian dollars, indicating the sector's steadily increasing payroll expenses. Year-on-year growth rates modestly range between 3.3% and 3.27%, while the compound annual growth rate over this period averages to approximately 3.22%.
Future trends to watch for include technological advancements driving productivity and potentially altering wage structures. Additionally, sustainability concerns and the demand for eco-friendly products may influence sector dynamics, alongside possible shifts in trade policies impacting both export markets and domestic operations.
