As of 2023, wages and salaries in the security, services to buildings, and other business support activities in Canada stood at CAD 24.65 billion. Forecasts for the coming years show consistent growth: CAD 25.06 billion in 2024, scaling up to CAD 26.72 billion by 2028. The year-on-year increase is steady, ranging from approximately 1.7% to 2%, reflecting modest but consistent economic growth in these sectors. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is about 1.6%, indicating a stable upward trend.
Future trends to watch for include technological advancements that could impact labor demand and wage structures, as well as regulatory changes in building and security standards that may drive additional investments and wage adjustments. Additionally, economic conditions and inflation rates could further influence wage dynamics in this sector.
