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HomeWealth ManagementCanada now has extra millennials than boomers, Gen Z is rising quick

Canada now has extra millennials than boomers, Gen Z is rising quick

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Nevertheless, Gen Z is rising and has leapfrogged Gen X to change into Canada’s third largest technology and should change into the biggest throughout the subsequent 30 years, with latest features additionally on account of immigration.

Elevated immigration additionally had an impression on the common age of Canada’s inhabitants, which lowered to 41.6 years from 41.7 years between July 2022 and July 2023. Whereas this lower is small numerically, it was the primary since 1958. Most immigrants have been below 40.

Nonetheless growing old

Whereas immigration will gradual the statistical growing old of the inhabitants quickly throughout spikes, the inhabitants remains to be growing old and for the reason that early 2000s, the fastest-growing age teams have nearly all the time been these made up of the very previous because of medical advances which have lowered mortality in any respect ages during the last century.

The stats present that, on July 1, 2023, there have been greater than 7.5 million Canadians over 65 and barely fewer aged below 18. It’s the primary time that has occurred within the nation’s historical past.

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