Canada’s over\u002D65 population is not small. In 2020 it was more than 18 per cent and within eight years is expected to reach 23 per cent. Clearly, current…
The labour shortage that has been aggravated during the pandemic is not over. According to Statistics Canada, there were 915,500 unfilled positions in the fourth quarter of 2021. That’s up by 63 per cent compared to 2020. Jobs are also staying vacant for longer periods. Shortages were large before COVID but made worse during the pandemic.
Although, it has the highest population growth of any G7 country, Canada has under 0.5 per cent of the world’s population, with one of the smallest population densities on Earth . In fact, it is more than an order of magnitude smaller than the world’s average population density which is about 50 people/square km. India, China, and the U.S. have 464, 149 and 121 people/square kilometre respectively. Bear in mind that Canada is the second-largest country, geographically, in the world.
Many western countries are aging with a rate proportional to their level of advancement. People are living healthier and longer while younger people tend to either not get married or not have large families. This leads to a shrinking workforce and will have a direct impact on economic growth. Japan, for example, is becoming greyer than ever, with about 30 per cent of its population over 65 years of age. Its population actually dropped by some 640,000 in 2021.
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