Canada’s population increased by 744,324 people in 2024, a 1.8% growth rate, according to Statistics Canada. This is lower than the 3.1% rate in 2023 and 2.5% in 2022. The growth may be a transition back to pre-pandemic growth patterns.
International migration accounted for 98.5% of the total growth in the fourth quarter of 2024 and 97.3% of the growth over the year. Canada’s economic growth relies on immigration, but over two million newcomers are expected to leave the country in 2025 and 2026 as their permits expire.
This is part of the federal government’s plan to reduce the number of temporary residents and cut population growth. The number of temporary residents increased after the pandemic ended to fill job vacancies, but Ottawa tightened its immigration policies last year due to declining job vacancies and a rising unemployment rate.
Source: Financial Post
Source: The Star
