National Bank economist: ‘The demographic shock is getting worse in Canada’

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Population growth appears to be picking up steam, ahead of government crackdown

The federal government is trying to restrict migration to Canada , citing the challenge in absorbing so many newcomers over a short period. But so far in 2024, population growth seems to be picking up steam.

This latest acceleration was the subject of a recent research note from Stéfane Marion, chief economist at National Bank of Canada. “The demographic shock is getting worse in Canada,” he wrote., and this surge is fuelled almost entirely by international migration, including the arrival of temporary workers and students. The population grew by nearly 1.3 million last year, or 3.2 per cent, the quickest pace since the late 1950s.

Aud-Url Canada Cent Population Statscan Migration Government Canada Growth Marion Ottawa Statistics Canada 'S Labour Force

 

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