Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Industries with the Highest Labor Costs in Canada in 2020
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View a list of the Top 25 industries with the highest labor costsLabor Costs for 2020: $40.0B
The Hospitals industry in Canada, which includes medical and surgical hospitals, has exhibited stable growth over the five years to 2020. Canada's healthcare system is predominately public, with 70.5% of funding coming from the public sector and the remainder from the private sector, according to the “National Health Expenditure Trends, 1975 to 2019” report by the Canadian Institute for Health Information (CIHI). Therefore, the industry is heavily dependent on both federal and provincial funding, which is mostly allocated via global budgets systems, where a fixed payment amount is allocated to a provider to cover operating expenses for a period of... Learn More
Labor Costs for 2020: $33.8B
Despite low interest rates and some hiccups in economic growth, the Commercial Banking industry in Canada has expanded over the five years to 2020. Banks have done an exceptional job of diversifying revenue streams and overcoming limits imposed by low interest rates and increasing regulations. The industry primarily generates revenue through interest income sources, such as business loans and mortgages, but it also generates income through noninterest sources, which include fees on a variety of services and commissions. Consequently, industry revenue is expected to grow an annualized 9.4% to $240.2 billion over the five years to 2020 with an increase... Learn More
Labor Costs for 2020: $24.8B
The IT Consulting industry in Canada is composed of companies that help private businesses and public sector agencies design, implement and manage information technology (IT) systems. Demand for industry services is positively affected by growth in corporate profit and business sentiment. As these drivers strengthen, companies increase expenditure on industry services. However, since corporate profit levels decreased in recent years, demand for industry services was hindered. In addition, over the five years to 2020, there has been a significant degree of technological change due to the increasing prevalence of cloud-based services, mobile applications and other cutting-edge software. These technological changes... Learn More
Labor Costs for 2020: $18.4B
The Colleges and Universities industry in Canada has experienced growth over the five years to 2020 despite the declining role of government funding and the spread of COVID-19 (coronavirus) in Canada. During the period, tight budgets have constrained federal and provincial funding for postsecondary education, causing certain institutions to implement hiring and salary freezes to reduce expenses. At the same time, total enrolment has experienced modest growth, and most institutions have also raised tuition rates to offset declines in funding. Overall, industry revenue is estimated to increase an annualized 3.0% to $43.9 billion over the five years to 2020, though... Learn More
Labor Costs for 2020: $11.6B
The Engineering Services industry in Canada has contracted amid a serious crisis in the industry's largest service market over the five years to 2020. This industry provides consulting, design, feasibility studies and technical services for a variety of projects that require a deep understanding of the principles of engineering. Prior to the period, industry revenue reached an all-time high in 2014 as increased corporate profit fuelled greater investment in nonresidential construction. However, as the price of crude oil tumbled in 2015, the value of nonresidential construction fell and many downstream customers either cancelled or postponed major capital expenditure projects, which... Learn More
Labor Costs for 2020: $11.0B
The Supermarkets and Grocery Stores industry in Canada has experienced strong growth over the five years to 2020, which can be attributed to an expected spike in revenue in 2020 amid the COVID-19 (coronavirus) pandemic. Between 2015 and 2019, while rising levels of consumer confidence and slight growth in per capita disposable income provided an optimal business environment, the proliferation of supercentres stifled industry revenue as it increased price-based competition and provided customers with a one-stop shopping experience. Many consumers sought cost savings at grocery stores, stocking up on promotional items or trading down to private label brands. In response... Learn More
Labor Costs for 2020: $10.9B
The Full-Service Restaurants industry in Canada has exhibited growth over the five years to 2020, due to rising levels of per capita disposable income during the majority of the period and a growing number of high-income households in Canada. This has generated significant demand for restaurants and other discretionary experiences. At the same time, quick-service restaurants have outperformed full-service restaurants due to their more affordable prices and superior product development, somewhat hindering industry revenue growth. Moreover, many operators have been put under pressure by rising food prices, which have pressured industry profit. Ultimately, industry revenue is estimated to grow at... Learn More
Labor Costs for 2020: $8.5B
The Primary Care Doctors industry in Canada, which encompasses general practitioners who provide a comprehensive first point of contact and continued care to patients, has exhibited moderate and largely steady growth over the five years to 2020. Demand for primary care services has grown organically due to demographic changes, such as the aging of the population. Due to the significant uptick in birth rates between 1946 and 1965, as well as medical advancements that have boosted life expectancy, the number of seniors has increased in recent years. With the incidence of degenerative medical conditions increasing with age, the older population... Learn More
Labor Costs for 2020: $8.3B
The Fast Food Restaurants industry in Canada has expanded over the five years to 2020, despite mounting internal competition and changing consumer tastes. Higher consumer spending and product innovation by fast food restaurants have renewed consumer interest in fast food. Products with higher profit, such as coffee, smoothies and salads, have become more prominent at traditional fast food restaurants, leading to an increase in the average industry profit. Furthermore, meal customization and high-quality ingredients have become increasingly popular in recent years, inducing major players in the industry to reconsider their overall strategy and menu offerings. As a result of these... Learn More
Labor Costs for 2020: $8.0B
The Electricians industry in Canada provides an essential service for the construction of new buildings in addition to homeowners and businesses in need of electrical repair or installation work. Industry operators run electrical and telecommunications wire and cabling through the internal structure of buildings, and can be contracted for climate control, fire safety and fibre optic cable installations. They also perform work for large-scale industrial projects, such as factories and energy infrastructure, and commercial or institutional buildings, such as office buildings and hospitals. The industry's largest companies pursue these lucrative contracts, while most contractors operate on a small, local basis... Learn More
Based on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Least Risky Industries in Canada in 2020
VIEW ARTICLEBased on the expert analysis and our database of 480+ CA industries, IBISWorld presents a list of the Biggest Industries by Employment in Canada in 2020
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