The number of self-employed people in the wholesale, retail, and repair of motor vehicles and motorcycles sector in Canada is forecasted to slightly decrease from 28.99 thousand jobs in 2024 to 28.63 thousand jobs in 2028. This indicates a gradual decline with a compound annual growth rate (CAGR) suggesting a small but persistent reduction in self-employment within this sector.
Year-on-year variations show a declining trend, reflecting ongoing challenges such as market saturation, technological advancements, and possibly rising operational costs that may affect self-employment numbers.
Future trends to watch for:
- Impact of technological advancements on vehicle repair and retail, potentially reducing the need for self-employed professionals.
- The influence of electric vehicles and online retail growth on traditional business models.
- Regulatory changes and economic conditions that could either hinder or support self-employment in this sector.
