The Decibel What’s driving Canada’s ‘population trap’?
Jan 18, 2024
Canada's rapid population growth and the strain it puts on the country's living standards and infrastructure. The rise of temporary residents and the economic motives behind it. The concept of Canada's 'population trap' and the need for policy changes. Criticism of Canada's immigration policy and suggestions for improvement. The impact of immigration on affordability, housing, healthcare, and services.
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Canada's Rapid Population Growth
- Canada's population grew by over 1.2 million in the last year, a growth rate not seen since the 1950s.
- This rapid growth, fueled by temporary residents, is putting stress on the system.
Shift in Immigration Policy
- Canada's immigration policies shifted towards temporary residents, leading to a substantial increase in foreign workers and students.
- This increase was partly driven by labor shortages and a lack of oversight on temporary resident numbers.
The Population Trap
- Canada is caught in a "population trap," where population growth outpaces investments in the economy, hindering improvements in living standards.
- This trap is characterized by insufficient capital investment, leading to stagnant real GDP per capita.