Canada has experienced remarkable population growth in the second quarter, marking the highest year-over-year increase in nearly seven decades. According to Statistics Canada, the country's population has risen by 2.9% from the previous year, reaching 40.1 million people. This surge translates into an impressive growth of approximately 1.2 million individuals. Notably, Canada leads all Group of Seven economies in terms of population growth and is likely to be among the top 20 fastest-growing countries globally.
This level of population growth has not been observed since the baby boom and the Hungarian refugee crisis in 1957. An overwhelming 98% of this growth is attributed to immigration, primarily among non-permanent residents. This category includes immigrants who enter Canada on temporary work or study visas. The number of immigrants with temporary work and study visas has reached 2.2 million in the third quarter, indicating a significant 46% increase compared to the previous year. Consequently, this specific group of immigrants now surpasses the population of Canada's indigenous people, numbering at 1.8 million.
Canada's substantial immigration rates have positioned it as the second-fastest growing developed country, trailing only behind the United States. Population growth fuels economic activity as newcomers enter the workforce and contribute to consumer spending on goods and services.
However, experts argue that Canada's ambitious immigration targets present challenges for the nation. The government aims to welcome 500,000 permanent residents annually by 2025, representing an 85% increase since Prime Minister Justin Trudeau assumed office in 2015. The rapid influx of immigrants has fuelled an overheated housing market, placed strain on the healthcare system, and exacerbated traffic congestion in cities unaccustomed to such volumes.
It is evident that Canada's population growth is both remarkable and complex, with far-reaching implications for various sectors of society.
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