The Effect of Population Aging on Economic Growth in Canada is a new study that finds an increase in share of the population aged 65 years or older results in a reduction in the growth rate of per person GDP, and by 2043, the population share of seniors is projected to reach between 21.1 per cent and 25.5 per cent based on data from Statistics Canada.
Aging, Capital Investment, and Standards of Living finds that if policymakers want to offset the effects of Canada’s aging population and subsequent decline in labour market growth, they must make the country more attractive to business investment.
| By: Tegan Hill, Alex Whalen and Milagros Palacios
An Aging Population: The Demographic Drag on Canada’s Labour Market is a new study that finds the employment rate for Canadians between 15 and 64 years of age (working age) is at a historic high, but the overall labour market has yet to fully recover from the pandemic-induced recession due to the continued aging of the country’s population.
Understanding the Changing Ratio of Working-Age Canadians to Seniors and Its Consequences is a new study that finds as Canada’s population ages, the number of working-aged Canadians relative to the number of seniors has declined from 5.4 in 2000 to 3.4 in 2022, which means government spending related to seniors is increasing at the same time that the growth in tax revenues is declining.
