The total hours worked in the iron and steel industry in Canada is projected to decline steadily from 2024 to 2028, with values decreasing year-on-year by 1.54% on average. In 2023, this figure stood at approximately 66.42 million hours. From 2024’s forecast of 65.38 million hours, the hours worked will decrease each year to 61.44 million hours in 2028. This reflects a compound annual growth rate of -1.54% across the five-year span.

Future trends to watch for:

Automation and technological advancements that could impact labor demand.
Shifts in global steel demand influencing production and hours worked.
Policy changes in trade and environmental regulations affecting industry operations.
Potential workforce skill transformations to adapt to new industry technologies.