Millennials Take Over Canada… Find Out What This Means for the Future

A recent report from Statistics Canada has revelead a significant demographic shift in Canada, with millennials now outnumbering baby boomers for the first time ever in the history of Canada.

The study found that millennials currently make up 23% of the Canadian population, marking a notable increase from previous years. This demographic surge has been attributed to the influx of both permanent and temporary immigrants into the country.

Between July 2022 and July 2023, the millennial population in Canada saw a substantial increase of 457,354 individuals, primarily due to immigration. Furthermore, the average age of Canada’s population experienced a slight decline from 41.7 to 41.6 during the same period.

Impact of Immigration

Immigration has played a pivotal role in shaping Canada’s demographics, with 96% of the country’s population growth between July and December 2023 attributed to immigrants. In 2022, immigrants accounted for 23% of Canada’s total population, with a significant proportion falling under the age of 65.

Regional Disparities

The study also highlighted regional disparities in population demographics, with the Atlantic provinces exhibiting the oldest population. Newfoundland and Labrador, in particular, boasted the highest average age and proportion of people aged 65 years and older.

Future Immigration Plans

Looking ahead, Canada aims to welcome 485,000 new permanent residents through different immigration pathways in the current year, with plans to increase targets in subsequent years. These increased immigration levels are seen as crucial for addressing labor shortages and sustaining economic growth.

Attraction of Young Talent

To attract and retain young talent, Canada offers various incentives such as post-graduation work permits and streams through Ontario PNP for international students and favorable immigration policies for skilled workers. These initiatives are aimed at bolstering Canada’s workforce and driving economic prosperity.

Conclusion

The findings of the Statistics Canada report underscore the importance of immigration in shaping Canada’s demographic landscape. With millennials now surpassing baby boomers, the country is poised for continued growth and prosperity fueled by a diverse and dynamic population. Know more about immigration and latest updates at Truecanhelp.

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