Canada Surpasses 41 Million Population Milestone

Canada’s population surpassed 41 million as of Wednesday morning, according to the live tracker by Statistics Canada. This achievement comes just nine months after the nation hit the 40 million mark.

 

The rapid pace of population growth in Canada is evident in the latest figures released by the federal agency. Between January 1, 2023, and January 1, 2024, the country witnessed an addition of 1,271,872 residents, marking a growth rate of 3.2 percent - the highest since 1957.

 

A significant portion of this growth, accounting for 3.2 percent, can be attributed to temporary immigration. Without this influx, the population increase would have been a modest 1.2 percent, as per Statistics Canada's analysis.

 

In the last quarter of 2023, from October 1 to December 31, the population saw a surge of 241,494 individuals, or 0.6 percent, representing the highest fourth-quarter growth rate since 1956.

 

In response to the growing population, Immigration Minister Marc Miller announced on March 21 that the government would set targets for the number of temporary residents allowed into Canada to ensure "sustainable" growth. Following this announcement, BMO economist Robert Kavcic commented that these new limits would positively impact Canada's rental market and overall housing situation.

 

Alberta, known as Canada's wild rose country, has emerged as a popular destination, witnessing the largest net gain in interprovincial migration in 2023, as reported by Statistics Canada. This suggests that more Canadians are opting to move to the province, aligning with the provincial government's campaign to attract residents.