Manufacturing
3 of 9
In 2025: COLD
It is, as Rahnema says, "no secret" that manufacturing in Canada has been, and will continue to be, in decline. "Obviously, Canada just can't compete from a wage standpoint," the Deloitte author adds. However, while manufacturing everyday items like furniture and sneakers may not make sense in Canada by 2025, perhaps there is still room for optimism. Rahnema says Canada should focus instead on so-called "high value manufacturing" — the creation of items Canada is uniquely positioned to produce, such as green technologies and semi-conductors. Such high-value producing will offset some of the coming manufacturing job losses. Rahnema says, though, that specialization may not be enough to stabilize the fate of future manufacturing jobs, which made up 13 per cent of the entire Canadian job market in 2010.
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Video by: Business News Network | For more, go to BNN.ca
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