Forecast: Employment in Security and Investigation Services Sector in Canada

The employment in the Security and Investigation Services sector in Canada stood at 159,200 persons in 2023. Over the years, the sector has shown consistent growth with some fluctuations. Since 2013, employment has progressively increased, with a few notable dips in 2015 (-2.9%) and 2020 (-2.72%). Significant growth spikes occurred in 2016 (8.28%) and 2021 (11.17%). The average annual growth rate (CAGR) over the last five years post-2018 to 2023 is 4.75%, indicating robust industry expansion despite minor setbacks.

Looking ahead, the employment forecast for 2024-2028 demonstrates a continuing upward trend, with an average annual growth rate (CAGR) of 3.43%, projecting the sector to grow by 18.37% over the next five years. This suggests sustained and stable growth in the employment opportunities within this sector.

Future trends to watch for include:

• Increased investment in security technologies could prompt a higher demand for specialized personnel.
• Regulatory changes and new compliance requirements may impact hiring needs.
• Potential economic fluctuations could affect funding and hiring in the sector.
• Growing emphasis on cyber security might shift job roles and require new skill sets.
• Expansion in urban areas could lead to higher employment in security services.