Yukon’s economic outlook: Strong labour market and sustained growth projected

The Conference Board of Canada has released two reports forecasting a robust future for Yukon’s economy and labour market. Despite a projected 3.2% decline in real GDP for 2024 due to reduced mining output, the territory is expected to rebound with an average GDP growth rate of 2.1% between 2025 and 2028. The reports highlight a 10% expansion of Yukon’s workforce by 2045, with significant growth anticipated in non-commercial and commercial services. This positive outlook is supported by expected growth in tourism, non-residential investment, and a strengthening consumer spending environment, painting a promising picture for Yukon’s economic future.