As of 2023, the number of persons employed in the insurance, reinsurance, and pension funding sector in Canada was a key measure of industry health. Forecasts from 2024 to 2028 indicate a steady increase, with employment expected to grow from 132.14 thousand in 2024 to 136.48 thousand by 2028. Over these years, the forecasted year-on-year increase averages around 1%, showcasing a gradual upward trend in employment within the sector. The compounded average growth rate (CAGR) over five years also underlines this consistent, albeit modest, growth.
Future trends to watch for in this sector include automation and digital transformation, which could impact employment numbers. The industry's adaptation to technological advancements, regulatory changes, and evolving consumer expectations will be crucial in defining future employment trends.
