In 2023, labour costs in high R&D intensive activities in Canada were 28.67 billion Canadian dollars. From 2024 to 2028, forecasts suggest a steady increase in these costs, growing from 29.29 billion to 31.76 billion. The average Compound Annual Growth Rate (CAGR) over this period is approximately 2.0%. Year-on-year increases reflect a stable, incremental growth trajectory in labour costs.
Future trends to watch for include:
- Potential impact of economic conditions on R&D spending and labour costs.
- Technological advancements that may influence productivity and cost structures.
- Government policies affecting R&D funding and tax incentives.
