Aging Population In Canada

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Economic Development The Aging Population of Canada Format: MLA Student Number: 1160826 12/12/08 Nitin Hemraj Did you know that most of the worlds aging population live in the developed countries? Economists have even gone further and predicted that the number of elderly in developed counties is going to rise more in the future. Based on this prediction economists have even said that the aging population in the future will affect Canada’s ability to provide the talent and the necessary skills that are essential to build a productive economy (The Labor Market and Skills Implications). In addition, one other major impact that the ageing population will have is that there will be many problems in…show more content…
Just to give you an idea in 2001, “it was estimated that 3.92 million Canadians were 65 years of age or older” (Canada’s Aging Population Pg. 9). What the scary thing about this figure is that it is still rising at an alarmingly fast rate. Now time for a little bit of history about the population growth in Canada. There was an enormous increase in the birth rate, from 1947 to 1970, after the Second World War, this increased the population of countries such as Canada and the US(Canada’s Aging Population). The people born in this generation are called the baby boomer. What is interesting about baby boomer is that as they start to retire the population of seniors is expected to hit, “around 6.7 million in 2021, and around 9.2 million in 2041”( Canada’s Aging Population Pg. 9). Economists have also confirmed that these increases in the growth of the senior population will approximately account for fifty percent of Canadian population growth for the next 3 decades (Canada’s Aging Population). In 2001 “over 430,000 Canadians were 85 years or older” (Canada’s Aging Population Pg.9). The figure named above is expected to more then triple in less then three decades. Through these figures one can see that Canada in the future will be having a very large population consisting of senior people, which can as we will see later on, be bad for…show more content…
Nevertheless, there are a couple of different ways (maybe even more) that the government can actually help Canada get out of this “soon to be crisis”. (By soon I mean if nothing is done in about four to five decades really hard problems may start to occur). However, like everything in this world nothing is perfect. There are costs and benefits involving the concepts that I discussed above. However, most of them generate benefits that exceed the costs, thus, they should be implemented. There are many important facts that I have learned through researching about the topic, aging population in Canada. Some of the most important ones are that the demand for health services will be increasing, because of the increase in old people. They tend to get sick more often and have other disabilities to. Also I found out that certain changes in infrastructure will me made to help the elderly, and even though this is a good thing it may hurt some of us. One last important fact that I learned is that in Canada the average demand for education will drastically decrease because the baby boom generation will be retiring soon. Taking all these facts and putting them into perspective I realize that the future is really exciting and scary at the same time. Will the government be able to help offset the aging population growth by immigration is something that I am really interested to find

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