Advertisement
Canada markets closed
  • S&P/TSX

    21,969.24
    +83.86 (+0.38%)
     
  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     
  • DOW

    38,239.66
    +153.86 (+0.40%)
     
  • CAD/USD

    0.7316
    -0.0007 (-0.10%)
     
  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     
  • Bitcoin CAD

    86,110.62
    -1,996.94 (-2.27%)
     
  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     
  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     
  • RUSSELL 2000

    2,002.00
    +20.88 (+1.05%)
     
  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     
  • NASDAQ

    15,927.90
    +316.14 (+2.03%)
     
  • VOLATILITY

    15.03
    -0.34 (-2.21%)
     
  • FTSE

    8,139.83
    +60.97 (+0.75%)
     
  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     
  • CAD/EUR

    0.6838
    +0.0017 (+0.25%)
     

Canada’s Population Continues To Grow At Record Pace

Canada’s population grew by 1.3 million people over the last year to 40.8 million, according to Statistics Canada. That’s the fastest population growth on record.

Nearly all the population growth (98%) came from immigration as Canada continues to implement one of the world’s largest and most ambitious migrant programs.

At a 3.2% annual rate, Canada has the fastest population growth in the developed world. Only a few African countries with high fertility rates are seeing their populations grow faster.

Statistics Canada’s real-time population measure shows Canada’s population is rapidly approaching 41 million people just nine months after it reached 40 million.

ADVERTISEMENT

Some economists and opposition politicians have called for the Liberal government of Prime Minister Justin Trudeau to curtail the rapid immigration, noting that it is straining infrastructure and social services, worsening housing shortages, and leading to high rent prices nationwide.

Read:

While Prime Minister Trudeau continues to argue that rapid immigration is needed to help stave off Canada’s economic decline, his government has announced plans to reduce the numbers of temporary residents and international students coming into the country.

The new restrictions put in place will cut the rate of Canada’s annual population growth by half or more in coming years, according to the government.