Because retired people save less money than working people, Canada will rely more on foreign savings to finance domestic investments.
The national employment rate in 2022 was 0.2 percentage points below the rate in 2019.
Despite a robust recovery in employment for working-age Canadians, the overall employment rate remains below pre-pandemic levels.
At the provincial level, an aging population is putting upward pressure on health-care spending.
The ratio of seniors to the working age population is expected to almost double from 20.3 per cent in 2010 to 38.4 per cent by 2040.
By 2043, Albertans aged 65 or older will account for a projected 19 per cent of the province's population.