The forecasted total hours worked in the coke and refined petroleum products sector in Canada indicates a steady decline from 14.85 million hours in 2024 to 14.7 million hours by 2028. Compared to the actual figures in 2023, the year-on-year variations reveal a gradual decrease in labor hours, averaging a compound annual growth rate (CAGR) of negative 0.27% over the five-year forecast period. This suggests a sustained reduction in workforce demand within the industry.
Future trends to monitor include:
- Technological advancements and automation potentially offsetting labor demand.
- Energy transition policies and their impact on the sector's employment needs.
- Global market dynamics influencing production and operational efficiencies.
