In 2024, the forecast for total hours worked in Canada's wholesale, retail trade, and vehicle repair sector is 880.2 million hours. This represents a continuation of growth from previous years. By 2028, the forecast reaches 918.89 million hours, indicating a steady year-on-year increase. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.1%. This consistent upward trend suggests an optimistic outlook for the sector, buoyed by demand for motor vehicles and the need for repair services.
Future trends to watch for include the integration of digital technologies in retail, potential impacts from shifts in consumer behavior towards electric vehicles, and regulatory changes that could affect the labor market dynamics in this sector.
