Employment in the Insurance, Reinsurance, and Pension Funding Sector in Canada has shown steady growth over the past decade. From 109,280 persons in 2013, it has risen to 147,870 persons in 2023. Notably, employment saw a significant increase between 2016 and 2017 with a year-on-year variation of 6.81%. Despite a slight dip in 2020, the sector rebounded strongly in 2021 with an 8.7% increase. The average Compound Annual Growth Rate (CAGR) over the last five years stood at 3.47% as of 2023.

Looking forward, the employment forecast from 2024 to 2028 shows a more modest growth. The projected employment is set to reach 161,000 by 2028, with a forecasted 5-year CAGR of 1.35% and a total growth rate of 6.96%. This indicates a steady yet slower growth rate compared to the previous decade.

Future trends to watch for include:

Technological advancements and automation impacting job roles and the type of employment in the sector.
An increasing focus on digital transformation necessitating new skill sets and qualifications.
Regulatory changes and their potential impact on employment dynamics within the sector.