The latest census data is renewing concern over Canada’s aging workforce and the lack of new labour poised to enter the job market in the coming years.
Statistics Canada has announced the release of the 2011 census data, which is expected to highlight information on the aging demographics of the nation’s population. The news comes just as the debate over Old Age Security benefits heats up – centered on whether or not the retirement age should be increased.
According to an internal document, Stats Canada estimates that the number of 45-64 year-old Canadians is at a record high. This is the group that is poised just below retirement age and will be reaching that milestone starting next year.
Furthermore, the data shows that those who are in and approaching retirement age are not evenly dispersed across the country – the highest proportions of aging demographics can be found in the eastern Atlantic Provinces and Quebec.
Canadian Prime Minister Stephen Harper has been developing ongoing strategies to deal with the shifting demographics, including the controversial move to increase retirement age. A more open immigration policy is also being touted as a possible solution to the looming worker shortage.
Canada, however, is thought to be in a better position than most of the G8 countries that are facing similar issues with retiring workers. Currently only Russia has a larger work force (aged 14-64) than Canada.
Source: Globe and Mail