The stationery product manufacturing industry in Canada saw a marked decline in salaries and wages from 2013 to 2023. The salaries peaked at 93.78 million CAD in 2013 and gradually decreased to 37.19 million CAD by 2023. The most significant drops occurred in 2017 and subsequent years, with an overall declining trend highlighted by a year-on-year variation of -10.5% in 2023. The compound annual growth rate (CAGR) from 2013 to 2023 reflected a consistent downward trajectory.
Looking forward, the forecasted data for 2024 to 2028 suggests an even more pronounced decline, with salaries projected to fall to 16.01 million CAD by 2028. The forecasted CAGR for the next five years is -13.4%, indicating a persistent decrease in remuneration.
Future trends to watch for include the impact of technological advancements such as automation, which may further reduce wage requirements, as well as shifts in consumer behavior towards digital alternatives. Additionally, the consolidation of manufacturing facilities and potential outsourcing could also play a role in shaping salary trends within the industry.
