In 2023, employees in the Crude Petroleum and Natural Gas Extraction Sector in Canada stood at 162 million hours. The data forecasts an increasing trend from 2024 to 2028, with hours worked projected to rise from 163.54 million hours in 2024 to 168.37 million hours in 2028. Analyzing year-on-year variations from 2024 to 2028, the sector sees a consistent growth rate of approximately 1% annually. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is roughly 0.9%, indicating steady growth.
Future trends to watch for include potential impact from green energy policies, technological advancements in extraction methods, and global market fluctuations in oil and gas prices. These factors could influence both employment rates and hours worked in the sector.
