Labour force to grow more slowly in coming years

In 2013, Canada had a labour force of approximately 19.1 million people. According to the scenarios included in the last set of labour force projections, the labour force should continue to grow in absolute numbers over the next two decades, potentially increasing to between 20.5 million and 22.5 million people by 2031.
The projection scenarios for the labour force suggest that the labour force will grow more slowly in the coming years, mainly because of the gradual exit of baby boomers into retirement.
Between 2006 and 2010, the average annual growth of the labour force was approximately 1.4%. Between 2016 and 2021, growth could fall below 1% according to all the projection scenarios while between 2021 and 2026, it could range between 0.2% and 0.7%. The slowing of the labour force growth is projected to stabilize around 2026, when most of the large generations of baby boomers will have left the labour force.

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