Forecast: Employment in Healthcare Sector in Canada

The employment in the healthcare sector in Canada has shown a consistent upward trend from 2013 to 2023, rising from 1.2 million to 1.51 million in 2023. Year-on-year growth has generally hovered around 2%, with significant deviations in 2020 (-0.9%) and 2021 (9.96%). The 5-year compound annual growth rate (CAGR) for 2023 stands at 2.65%, reflecting a robust upward trend despite occasional fluctuations.

Looking forward, forecasted data suggests continued growth, reaching 1.71 million by 2028. The anticipated 5-year CAGR from 2024 to 2028 is 2%, with an overall growth rate of 10.42%, signifying sustained expansion.

Future trends to watch for:

• Continued aging population increasing demand for healthcare services.
• Technological advancements in healthcare driving new employment opportunities.
• Government policies and funding affecting sector growth rates.
• Impacts of global health issues influencing employment trends.