Canada now has more seniors than children
The government’s Statistics Canada agency said Wednesday new census figures show there are now 5.9 million Canadians aged 65 and older.
The agency said that despite the recent acceleration in aging, Canada has a lower proportion of seniors — 16.9 percent — than any other Group of Seven country except the U.S, which is at 14.5 percent.
Doug Norris, chief demographer at the analytical services company Environics Analytics, said an older population will be a drag on economic growth as seniors spend less than most.