By (SBWIRE) -- 04/01/2013
Canadian senior citizens may soon be outnumbering youngsters of Canada, according to a Statistics of Canada projection. The statistics also show that the country's overall population will be above 40 million by 2036.
The projections were released on Wednesday and state that the Canadian population will reach nearly 43.8 million for 2036 if the population continues to grow at a medium rate. The numbers are based on the consistent fertility, mortality, and immigration trends the country has experienced. A high-growth scenario has been projected by the federal agency, which would see a larger overall trend in all three categories, suggests that the Canadian population could jump to as high as 47.7 million.
With million of baby boomers ever-aging, Canada's population is expected to “age rapidly” up until 2031, when the entire generation will be at 65 year old, according to the Statistics Canada. The population will then continue to age, but at a slower rate than before, at between 2031 and 2038.
For the first time since records began, the senior population is expected to be larger than the children under the age of 15 within the country. That turnover is expected to be experienced sometime between 2015 and 2021. The actual date will depend on the growth scenario that is realized.
The median age at that time is expected to be somewhere between 42 and 45, which is from up from 39.5 as it stands now. All provinces and territories are expected to experience population increases under the median- and high-growth scenarios according to the most recent data.