Thursday, December 21, 2023

Canada's population grows 430,000 over 3 months. What's behind the spike?

Global News on Youtube has the story.

There are renewed calls for a change to Canada's immigration policy, as the country's population growth continues to soar. From July to September, Canada came close to breaking the highest population growth rate in any quarter, when it reported 430,635 new residents.

Statistics Canada reported Tuesday the population increase, which reflected a 1.1-per cent growth rate in the third quarter of 2023. That was the highest population growth rate since the second quarter of 1957, when Canada’s population grew by 198,000 people, or 1.2 per cent.

Housing affordability, meanwhile, hit its worst level in more than four decades last quarter, the Bank of Canada said last week. At current building levels, the Canada Housing and Mortgage Corporation predicts Canada will be short 3.5 million homes, in addition to what’s currently being built, to restore housing affordability by 2030.

Global’s Sean O'Shea has the details.

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