From 2023 to 2028, wages and salaries in the agriculture, forestry, and seafood sectors in Canada are expected to rise consistently, according to forecasts. Specifically, these values projected in billion Canadian dollars increase from 12.21 in 2024 to 13.15 in 2028. This forecast trend represents a steady year-on-year growth rate.
Key variations include:
- A projected increase of 1.97% from 2024 to 2025.
- A rise of approximately 1.93% from 2025 to 2026.
- An estimated growth of 1.81% between 2026 and 2027.
- A forecast growth rate of 1.78% from 2027 to 2028.
These figures represent a compound annual growth rate (CAGR) of about 1.87%, indicating a stable upward trend in compensation within these industries over the five-year period.
Future trends to watch for:
- Potential labor shortages impacting wage growth.
- Technological advancements driving productivity changes.
- Environmental policies influencing industry wages.
