Canada’s working-age population is older than ever, StatsCan says

April 27, 2022

Canada’s working-age population is older than it has ever been, according to new census figures released Wednesday.

More than one in five working adults is now nearing retirement, says Statistics Canada — a demographic shift that will create significant challenges for the Canadian workforce in the coming decade.

Laurent Martel, director for the centre of demography at Statistics Canada, called it a “date with demographic destiny.”

“Canada is at a very special place right now,” she said. “There are very large implications of this situation and it is certainly one factor explaining the current labour shortages that Canada is experiencing.”

The Canadian population now has a larger share of people aged 55 to 64 than it does of those aged 15 to 24, the age at which people enter the workforce.

In 1966, there were 200 people aged 15 to 24 for every 100 Canadians aged 55 to 64, but that has now been flipped on its head. In 2021, there were only 81 people aged 15 to 24 for every 100 Canadians in the 55 to 64 age group.

“There are challenges associated with an older workforce, including knowledge transfer, retaining experienced employees and workforce renewal,” the agency said in its report.

Source: CBC News