The forecasted data for self-employed individuals in the Canadian rubber, plastics, and other non-metallic mineral products manufacturing sector shows a consistent declining trend. From 2024 to 2028, there's a projected decrease from 2.73 million hours to 2.09 million hours. This represents an annual reduction, with year-on-year decreases calculated at approximately 5.9% from 2024 to 2025, 6.2% from 2025 to 2026, 6.6% from 2026 to 2027, and 7.1% from 2027 to 2028. The compound annual growth rate (CAGR) for this five-year period shows a negative growth, reflecting a steady decline in self-employment hours.
Future trends to watch for include technological advancements and automation impacting labor demand, potential shifts in manufacturing to more sustainable materials, and global economic conditions affecting trade and production. Monitoring policy changes and innovation in manufacturing processes will be critical to understanding their impacts on self-employment within this sector.
