The Canadian labour market faces significant demographic shifts as the population ages. This has long-term implications for the workforce and public finance (see Fig. 1).
Fig. 1 – Canada population projections 2010–2050
| Year | Aged 15–64 (Millions) | Aged under 15 & 65 and over (Millions) |
|---|---|---|
| 2010 | 24.0 | 10.0 |
| 2020 | 25.0 | 12.0 |
| 2030 | 26.0 | 14.0 |
| 2040 | 26.5 | 15.5 |
| 2050 | 27.0 | 16.5 |
Source: Statistics Canada
What does Fig. 1 suggest will happen to the dependency ratio in Canada between 2020 and 2050?
