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Economic Viewpoint

Canada’s Population Growth Exceeds Expectations

November 26, 2018
François Dupuis, Vice-President and Chief Economist • Mathieu D’Anjou, Deputy Chief Economist • Benoit P. Durocher, Senior Economist

Against all expectations, Canada’s population growth has accelerated in recent years, exceeding even the most optimistic demographic projections. Canada is in fact the G7 country with the fastest growing population. This surprising result is due primarily to a marked acceleration in the country’s international immigration. That said, the tangible benefits for the labour force are not as great as one might think. Labour force growth is still fairly sluggish, a sign of the significance of the broad trends stemming from the ageing of the population. There are nonetheless some positive effects on the Canadian economy, such as increased demand in the housing market.

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