The employment in the Warehousing and Support Activities for Transportation sector in Canada has shown considerable growth from 2013 to 2023, standing at 466.23 million hours as of 2023. The employment values have increased year-on-year, with notable dips such as the -5.85% change in 2020, likely due to the pandemic's impact. However, recovery was evident with an 8.67% increase in 2021. Over the last two years (2022-2023), there has been a steady, albeit moderate, growth of around 2.24% on average. From 2018 to 2023, the compound annual growth rate (CAGR) stood at 2.11%, indicating sustained growth over the longer term.
Future forecasts predict continued growth, with a five-year CAGR of 1.54% up to 2028, translating to a total growth rate of 7.96%. This indicates that while growth is expected to continue, it might be at a slower pace compared to previous years.
- ☑️ Monitor technological advancements in automation and AI in warehousing.
- ☑️ Watch for changes in global trade dynamics which could impact employment.
- ☑️ Pay attention to transportation infrastructure developments in Canada.