Canada's New Milestone

As of today, Canada has a population of 40 million

Canada has reached a new milestone -- 40 million people as of today, June 16, 2023 according to Statistics Canada.

The country is now on par with Iraq (40.2 million), a dubious distinction...

The Canadian population made its single biggest jump in 2022 with just over 1 million people or 2.7 percent thanks largely in part to temporary and permanent migration. 

Migration has bumped up the population

A few thousand of those were from Hong Kong, taking advantage of Canada's pathways specifically designed for young people to come here to work and gain permanent residency.

"From an economic perspective, newcomers have been really important both to fill jobs that are here and to connect us with the economies out into the wider world," says Matti Siemiatycki, director of the Infrastructure Institute and a professor at the department of geography and planning at the University of Toronto.

If the current trend continues, Canada could see the number of residents jump to 50 million in 2043.

However, the population will not be able to grow if there is not enough housing -- and affordable housing at that. According to the Canadian Real Estate Association, the average selling price of a home in April was C$716,000... and Vancouver is the most expensive city in the country followed by Toronto.

"We're in a housing crunch. We haven't been building enough units across the country, especially at the affordable levels," he says.

Governments at the municipal, provincial and federal levels have promised to hire more skilled labour in the construction sector, but the wait is excruciating for those anxious to have a place to call home.