The self-employed population within Canada's mining and quarrying sector is forecasted to decline consistently from 2024 to 2028. In 2023, the actual number of self-employed individuals was 2.15 thousand. Forecasts suggest a reduction of approximately 2.38% from 2024 to 2025, 1.95% from 2025 to 2026, 1.99% from 2026 to 2027, and 2.03% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year forecast period reveals a consistent decline, averaging around 2.08% annually.
Future trends to watch for:
- Technological advancements impacting labor needs in the sector.
- Potential regulatory changes affecting self-employment in mining.
- Economic shifts that might influence commodity prices and sector demand.
