The labor cost in Canada's motor vehicles and motorcycles wholesale, retail trade, and repair sectors is forecasted to increase from CAD 165.73 billion in 2024 to CAD 177.97 billion in 2028. In 2023, the sector recorded CAD 162.6 billion. The year-on-year percentage growth is expected to show a steady upward trajectory, highlighting robust investment in labor-related expenses. The compound annual growth rate (CAGR) over these five years indicates a moderate increase.
Future trends to watch for include increasing wages due to labor market competitiveness, the adoption of advanced technologies requiring skilled labor, and potential regulatory changes impacting employment costs in this sector.
