This annual economic forecast presents Canada’s long-term labour market outlook.
An Aging Workforce Will Leave Labour Market Wanting: Canada’s Labour Market to 2040—March 2021
An Aging Workforce Will Leave Labour Market Wanting: Canada’s Labour Market to 2040—March 2021
Canadian Economic Analysis
$225.00
- An aging population will define Canada’s labour market over the next 20 years.
- Low levels of savings could contribute to a weaker economic performance over the next two decades, as low interest rates help support spending today at the cost of spending tomorrow.
- As the baby boomers retire, labour force and employment growth will slow.
- Scarcity of labour will be good for wages, and real wage growth will be strong throughout the forecast.
- Higher female participation and strong immigration levels will be key for Canada’s economy and could help counter the effects of an aging population.
- Productivity growth will be important for Canadians to maintain a good standard of living while saving for retirement.
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