From 2024 to 2028, the Canadian public administration and defence, along with compulsory social security wages and salaries, are projected to grow steadily. Starting at 111.88 billion CAD in 2024, it increases to 117.79 billion CAD by 2028, marking a consistent upward trend. The year-on-year growth varies slightly, maintaining a steady increase, reflective of around 1 to 1.5% annually. Cumulatively over five years, the Compound Annual Growth Rate (CAGR) suggests a moderate upward trajectory, emphasizing a stable yet incremental rise in public wage expenditure.
Future trends to be aware of include potential shifts due to policy changes in public funding, economic shifts affecting the budget allocations, and workforce dynamics like retirements and new entrants, which could influence these projections significantly.
