Golden Horseshoe’s Labour Market Forecast
This profile summarizes a regional labour market forecast for the broader automotive industry. The forecast model projects and quantifies trends in labour demand and supply for the industry over the forecast period from 2021 to 2030. The forecast model uses a combination of data sources to generate labour market outlooks.
Profile Highlights:
• The region’s broader automotive industry employed an estimated 62,970 workers in 2019. 59% of workers were employed in core automotive roles, including vehicle assembly (17%) and parts manufacturing (42%). The remaining 41% of workers were employed in automotive industry-associated industries. Looking ahead, employment is projected to remain flat at approximately 61,000 workers through 2030.
• The region’s broader automotive industry will need to hire 16,800 workers between 2021 and 2030 in order to meet projected labour demands. 14,990 workers will need to be hired to replace workers lost due to retirement or death, while an additional 1,800 workers will need to be hired as a result of industry growth.
• The region’s broader automotive industry is expected to face a recruitment gap of 13,550 workers between 2021 and 2030, even after taking account of new entrants to the workforce. This would require hiring the equivalent of 22% of the region’s current broader automotive industry employment. Recruitment gaps could be significantly higher if the industry fails to recruit new entrants at historic levels.