In 2024, internal R&D personnel in Canada's financial and insurance sectors are projected to stand at 2.67 thousand FTEs, aligning with the past year's workforce. Forecasts predict a gradual decline to 2.61 thousand by 2028. This pattern suggests a slight year-on-year reduction, with negative growth peaking at -0.76% between 2027 and 2028. The compound annual growth rate (CAGR) over the five-year period is approximately -0.45%, indicating a gradual decrease in R&D staffing.
Future trends to watch include advancements in AI and fintech possibly driving renewed investment in R&D talent. Additionally, shifts in regulatory environments could influence staffing needs, potentially reversing the downward trend.
