In 2023, employment in the Canadian seafood sector stood at 28.93 million hours. The forecasted data indicates a gradual decline from 2024 to 2028, starting at 28.86 million hours in 2024 and reaching 28.57 million hours by 2028.
- From 2024 to 2025, the employment is forecasted to decline by approximately 0.24% year-on-year.
- For the 2025 to 2026 period, another slight decline of about 0.24% is forecasted.
- By 2026 to 2027, the trend continues with a decline of roughly 0.27%.
- Finally, the 2027 to 2028 year marks a further decrease of around 0.24%.
Cumulatively, the Compound Annual Growth Rate (CAGR) for employment over the upcoming five years is approximately -0.31%, indicating a consistent, albeit slight, decline annually.
Future Trends to Watch For:
- Potential impacts of technological advances and automation within the seafood sector.
- Regulatory and policy changes affecting fisheries and marine environments.
- Economic and environmental factors influencing seafood demand and production.
- Labor market conditions and workforce dynamics in coastal regions.
