In 2023, total hours worked in Canada's rubber, plastics, and non-metallic minerals sector was a key indicator of industry health, setting the stage for forecasted data from 2024 onward. Over the period from 2024 to 2028, the data predicts a steady year-on-year increase in total hours worked, showcasing an upward trend in industry activity. Specifically, the annual rise is minimal, suggesting a stable but modest growth pattern with the compounded annual growth rate (CAGR) reflecting incremental increases.
Future trends to watch for include:
- The impact of technological advancements and automation on labor requirements, which may alter the trajectory of hours worked.
- Potential shifts in demand for rubber and plastics products, influenced by sectors such as automotive and construction, that might either boost or hinder growth in work hours.
- Regulatory and environmental policies that could affect production processes and employment in the sector.