The recreational activities sector in Canada is experiencing a consistent decline in self-employed hours, with 67.67 million hours predicted for 2024, decreasing yearly to 63.99 million by 2028. In 2023, self-employed individuals contributed 68.80 million hours, indicating a persistent downward trend. From 2024 to 2028, the year-on-year decreases range from approximately 1.68% to 1.13%, with a five-year compound annual growth rate (CAGR) reflecting a decline of 1.36% annually.
Future trends to watch include:
- Technological advancements improving efficiency but possibly reducing self-employment hours.
- Growing demand for diverse recreational services might offset the declining trend.
- Policy changes impacting labor market dynamics.