- Randall Bartlett, Deputy Chief Economist • LJ Valencia, Economic Analyst
Economic Viewpoint
Is Canada’s Population Slowing According to Plan?
February 6, 2025
Since the federal government revised its immigration targets, early signs have emerged indicating that the policies designed to slow population growth are working. Population gains have cooled in key segments and the influx of new non-permanent residents (NPRs) has slowed. However, we have yet to see permanent resident (PR) admissions come down.
Despite these recent developments, our population projection is mostly unchanged. The government still needs to stem the tide of inbound newcomers and see more NPRs leave the country in order to achieve its population targets.
Going forward, we’ll be closely monitoring and reporting on data from Immigration, Refugees and Citizenship Canada (IRCC) to get a sense of whether newcomer admissions are tracking toward the Government of Canada’s policy objective, and will adjust our forecast accordingly.
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