The Aging Effects of Canada’s Population Essay - 2742 Words

The Aging Effects of Canadas Population It was 1947, World War II had finally come to a halt and Canadian soldiers were sent home. The large number of males returning back to their countries quickly made up for lost time which, in turn, triggered the Baby Boom. The United States, Australia, and New Zealand were all faced with baby booms; however, Canada had the loudest boom of all which lasted from 1947 to 1966. At the height of the boom, Canadian women were averaging four children each which explains why today that the Canadian population is approximately one-third boomers. When a new product or idea is introduced it is likely targeted to this group simply because there are just so many of†¦show more content†¦It presents challenges for public health due to the lack of capacity and funds as well as for economic development, specifically the shrinking and aging of the labour force. The aging of the workforce is taking place as Canada is shifting to a knowledge-based economy, where a constant renewal of ski lls is necessary to keep up with rapid changes in knowledge, technology and information. As a result, the risks that labour shortages will deepen is expanding. Shifts in population size within various age groups have far-reaching social, economic and policy impacts (Dowd, 1980). This evolution has shaped Canada’s demographic past, present and future as the number of pre-schoolers, students, workers at the beginning, middle or end of their careers, retirees and so on have a profound effect on the many trends in our society (McPherson, 1990). The Movement While beginning this new millennium, Canadians are going through a time of dramatic social, economic and political change. The increasingly integrated global and economic markets along with the developments in technology have facilitated globalization and have made a huge impact on the lifestyles of Canadians (Canadian Institute of Actuaries, 2001)). With Canada’s aging population on the rise (Exhibit 1), it is obvious that different age cohorts will generate different trends. Consequently, from 1966 to 2001Show MoreRelatedAging Population : A Global Phenomenon1519 Words   |  7 PagesIntroduction Population aging can be defined as the median age of the population increasing over time. Aging population is becoming a global phenomenon as the baby boomers are hitting the 65-year mark and fertility rates are declining. An aging population has become an issue that many countries are having to face with significant impacts in economic areas. The Canadian population has changed drastically over the last several years. 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