Canada's millennials surpass baby boomers in July 2023
Date
2/22/2024 3:17:55 AM
(MENAFN) Canada's statistical agency announced on Wednesday that, for the first time in July 2023, the number of millennials in the country surpassed that of baby boomers.
"Although the country's population aging continues, it was slowed by the increase in permanent and temporary immigration observed in 2022 and 2023," Statistics Canada stated in a release.
"As the many recent immigrants are on average younger than the rest of the Canadian population, the average age of the Canadian population fell slightly from July 1, 2022, to July 1, 2023, a first since 1958," it further mentioned.
Statistics Canada reported that the millennial generation, encompassing individuals born between 1981 and 1996, outnumbered the baby boomer generation, which includes those born between 1946 and 1965, in terms of population size.
"However, the number and proportion of people aged 65 years and older have continued to rise, driven by the aging of the large baby boomer cohorts," the agency declared.
For 65 years, baby boomers retained their status as the largest generation within the Canadian population. During the mid-1960s to the early 1970s, they constituted approximately 40 percent of Canada's population, as reported. However, recent demographic shifts have reshaped the generational landscape in Canada.
Generation Z, comprising individuals born between 1997 and 2012, has emerged as the third-largest generation in Canada, surpassing Generation X, which encompasses those born between 1966 and 1980. This shift underscores the ongoing evolution of generational demographics within the country.
According to the latest population projections provided by the agency, Generation Z is expected to continue its growth trajectory. There is a forecast that Generation Z could surpass millennials in terms of population numbers sometime between 2038 and 2053.
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