The salaries and wages in the Pulp, Paper, and Paperboard Mills sector in Canada showed considerable fluctuation over the past years. From 2013 to 2019, there was a general upward trend, with a notable peak in 2019 at 2.0601 billion CAD. However, from 2020 onwards, salaries and wages began to decline, marking significant decreases, particularly in the years 2020, 2022, and 2023. As of 2023, the value stood at 1.8501 billion CAD. The last five years witnessed an average decline rate with a CAGR of -1.6% up to 2023, while the forecast from 2024 to 2028 suggests a continued decline with a forecasted 5-year CAGR of -1.66%.
Trends to watch for in the future include:
- Potential technological advancements and automation impacting labor costs.
- Economic factors and market demand influencing the sector's growth or decline.
- Environmental policies and sustainability initiatives possibly reshaping industry practices and labor requirements.