THE Canadaa country of about 38 million inhabitants, is on the verge of a “wave” of pensions, against the background of labor shortages and historically low unemployment.
«Canada is facing a record retirement“As its workforce ages, the number of people aged 65 and over has grown six times faster than that of children aged 0-14,” the country’s statistical office said in a statement. «“Never before has the number of people of retirement age been so high.”he added.
In the total active population, the citizens aged 55-64 make up 21.8%, ie more than 1 in 5 is close to retirement and this is one reason for the lack of labor force that is observed throughout the country.
The last months the unemployment rate is constantly falling and in March fell to a record low of 5.3%.
Canadians over the age of 65 reach 7 million (19% today, up from 16.9% in 2016) and remain “for a longer period in good health and active. By 2046, the number of residents over the age of 85 is projected to triple.
Demographic aging is explained by the decrease in births after 2016 but also the longer life expectancy.
«Fertility reached a record low in 2020, at 1.4 children per woman. “If this decline continues in the coming years, the demographic aging may be more acute than predicted today,” Laurent Martel, a senior official at the Statistics Service, told reporters.
The immigration “renews the population of Canada“But it is not enough to reverse this trend, the service estimates.
Note, however, that the Canadian population is “yet” from the “youngerOf the G7 countries, behind the US and Britain.
Source: News Beast

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