According to Statistics Canada, the working-age population in the country is older than ever before. The data agency said even large-scale immigration will not be enough to lessen the blow of aging workforce. More than one in five working adults are now nearing retirement in a massive demographic shift.
This will create significant challenges to the Canadian workforce in the coming decades, according to new census figures. Director for the centre of demography at Statistics Canada, Laurent Martel said it’s a “date with demographic destiny, … Canada is at a very special place right now.”
In 1966, there were 200 people aged 15 to 24 for every 100 Canadians aged 55 to 64. That number has flipped as there are only 81 people aged 15 to 24 for every 100 Canadians in the 55 to 64 age group. Martel explained that “there are very large implications of this situation and it is certainly one factor explaining the current labour shortages that Canada is experiencing.”
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