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Market Chatter: Migration Curb Tanks Canada Population Growth to 2-Year Low
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Market Chatter: Migration Curb Tanks Canada Population Growth to 2-Year Low
Dec 17, 2024 8:13 AM

10:54 AM EST, 12/17/2024 (MT Newswires) -- Canada added 177,000 people in the third quarter, growing the population by 0.4% from the second quarter and representing the slowest growth since early 2022, Bloomberg is reporting Tuesday.

It noted data released by Statistics Canada on Tuesday suggests Prime Minister Justin Trudeau's crackdown on temporary immigration is starting to ease "explosive" population gains that strained housing and services since the pandemic.

The net number of non-permanent residents, which include foreign students, temporary workers and asylum seekers, grew by 47,000 people, the least since the third quarter of 2015 excluding the third quarter of 2020 when pandemic-related border restrictions caused the figure to decrease.

As of Oct. 1, there were 3,050,000 non-permanent residents in Canada, or 7.4% of the total population, up from 3,002,000 on July 1. The Trudeau government aims to reduce the cohort to 5% of the population over the next few years.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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