The forecasted wages and salaries in high R&D intensive activities in Canada show a steady increase from 2024 to 2028, starting at 24.52 billion CAD in 2024 and reaching 26.6 billion CAD by 2028. This represents a gradual year-on-year growth of: 2.2% (2024 to 2025), 2.1% (2025 to 2026), 2.0% (2026 to 2027), and 1.9% (2027 to 2028). The compound annual growth rate (CAGR) over these five years is approximately 2.05%.
Future trends to watch for include:
- Technological advancements driving more investment and hiring within R&D sectors, potentially accelerating wage growth.
- An evolving competitive global landscape that might influence wage adjustments to retain talent.
- Government and policy changes impacting R&D funding and labor costs.
