by Mathieu Arseneau, National Bank Financial
Yesterday, Statistics Canada published data from the latest census showing that population growth, stimulated mostly by migratory increase, was the strongest among G7 countries between 2011 and 2016, a ranking also recorded in the prior intercensal. It is not a coincidence that Canada’s economy also registered the strongest growth among G7 countries during the past decade as real potential growth is strongly correlated with working–age population growth.
As today’s Hot Chart shows, international migration could have lift potential GDP growth by almost one percentage point in 2016 because without net migration the 15-64 cohort would be declining at a 0.3% pace instead of a 0.6% rise. Which helps furthermore the Canadian economy is that among OECD countries, Canada has been receiving the highest proportion of immigrants with a high level of education which also explains why the country’s employment rate for residents born abroad is among the highest of the advanced economies.
View/Download the original document:
Hot Charts 9feb2017 by dpbasic on Scribd
Copyright © National Bank Financial
