In 2024, the forecast for wages and salaries in the crop and animal production, hunting, and related service activities in Canada is projected at 7.95 billion Canadian dollars, marking a steady increase from its standing in 2023. Year-on-year growth is modest yet consistent, averaging around 2.6% annually through 2028 based on a Compound Annual Growth Rate (CAGR). By 2028, the figure is expected to reach 8.77 billion Canadian dollars, demonstrating a positive trend reflecting a consistently growing sector.
Future trends to watch for include:
- Technological advancements enhancing efficiency.
- Impacts of climate change on agricultural productivity.
- Policy shifts influencing labor costs and agricultural sustainability.
