In 2023, the value of labour costs in employment services in Canada stood at 8.96 billion Canadian Dollars. From 2024 to 2028, the forecasted data show a steady year-on-year increase: 2.0% in 2024, 2.0% in 2025, 1.8% in 2026, 1.8% in 2027, and 1.8% in 2028. Over the last five years, the compound annual growth rate (CAGR) is 1.88%. This reflects a consistent upward trend in labour costs in the sector.
Future trends to watch for:
- Technological advancements automating routine tasks could impact labour costs.
- Policy changes regarding minimum wage and labour rights could alter cost structures.
- Economic conditions influencing employment levels and wage demands.
