Between 2024 and 2028, the forecast for the number of persons employed in the iron and steel sector in Canada indicates a steady decline. From 2024 to 2025, there is a decrease from 33.37 to 32.89, reflecting a reduction rate of about 1.44%. Continuing this trend, a consistent year-on-year decline is observed, shrinking to 31.5 by 2028. Over these five years, the compound annual growth rate (CAGR) suggests an average negative growth rate in employment, signifying a modest but persistent contraction in the industry workforce.

Future trends to watch for:

Adoption of automation and advanced manufacturing technologies that may impact employment numbers.
Fluctuations in global steel demand, which could further influence employment trends.
Potential policy changes or trade agreements affecting the Canadian steel industry.