A a new report argues Canada needs to welcome a lot more newcomers to counterbalance its aging demographic.
Minister of Immigration, Refugees and Citizenship Sean Fraser arrives to a cabinet meeting on Parliament Hill in Ottawa, Tuesday, June 13, 2023.
And if the country wanted to go back to the average old-age dependency ratio it had between 1990 and 2015, that group of Canadians would have to grow by 4.5 per cent annually. The strong population growth comes as the Liberal government eyes higher annual immigration targets, which would see the country welcome 500,000 immigrants per year by 2025.
GDP per capita is the size of a country’s economy divided by its population. Many consider it to be a better measure of a country’s living standards than the overall GDP figure. But critics argue that relying on immigration to supply workers for the economy can also serve as a disincentive for businesses to invest in technology that would boost labour productivity and reduce dependency on workers.
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