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Canada’s Population Grows at Fastest Rate Since 1957 as Ontario Expects Rampant Growth in the Decades to Come

Date:
September 28, 2022
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According to recently released data from Statistics Canada, the number of people living in Canada rose by 0.7%, or 284,982, to 38.9 million in the second quarter of 2022, signifying the highest pace of quarterly growth since 1957 and representing a staggering increase of about 3,100 people per day.

These latest numbers highlight Canada’s desire to bring in newcomers to expand the working age population and to replace aging workers who are exiting the workforce.1

With Canada’s population growing at a pace higher than seven of the world’s most advanced economies, immigration has proven to be the main catalyst for the nation’s prosperity, accounting for nearly all the country’s employment growth.2

For the three-month period between April and July of this year, immigration accounted for 95% of the nation’s quarterly growth, the highest increase since 1971, fueling the country’s 1.8% population increase for the twelve-month period ending June 30.3

Projections released by Statistics Canada in August indicate that in a medium growth scenario, Ontario’s population will grow from 14.8 million to approximately 19 million by 2043 and could even surpass 21 million in a higher growth scenario, representing an increase of six million from the current population. In order to accommodate growth throughout Ontario and to address the housing supply shortage, earlier this year the provincial government made an announcement that based on the recommendations put forth in the Report of the Ontario Housing Affordability Task Force, they have set a target to build 1.5 million homes in Ontario by 2031 through the amendment of the Planning Act, Provincial Policy Statement, and Growth Plans. However, the construction industry is experiencing a workforce shortage that is making it challenging to build the number of homes needed and to keep up with the demand for homes during a time when the province is experiencing a severe housing shortage. The recent population projections for Ontario further indicate that its construction industry will need to see significant increases in its workforce in order to deliver on both the housing and infrastructure needs of a much larger population.3 4

To address labour shortages seen across several industries in Canada, in 2023 the federal government will start being more strategic in the way they choose permanent residents by targeting those in specific occupations and with certain skills. With housing stock struggling to keep up with the pace of expected population growth, immigration tactics will surely target those in the construction industry.2

Based on demographic realities and welcoming immigration policies, it is likely that Canada will continue to steadily increase its immigration levels over the foreseeable future as immigration remains critical to supporting a healthy economy.

 

1 Statistics Canada
2 BNN Bloomberg
3 CTV News
4 Report of the Ontario Housing Affordability Task force

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