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Canada elderly outnumber children for first time

Published 2015-09-29, 02:12 p/m
Canada elderly outnumber children for first time

OTTAWA, Sept 29 (Reuters) - The number of people aged 65 and
over has exceeded the number of children in Canada for the first
time, with the proportion of the elderly only expected to
increase as the Baby Boom generation gets older, data showed on
Tuesday.
Many countries in the industrialized world are facing aging
populations, and the trend has potential ramifications for both
economic growth and the labor market as older workers retire.
Nearly one in six Canadians, or 16.1 percent, were at least
65 years old as of July, amounting to a record 5.78 million
people, preliminary estimates from Statistics Canada showed. In
comparison, there were 5.75 million Canadians under the age of
15, making up 16.0 percent of the population.
By 2024, the number of elderly should grow to 20.1 percent
of the population, while the number of children is expected to
increase only slightly to 16.3 percent.
Nonetheless, Canada's current proportion of seniors is among
the lowest of its Group of Seven industrialized peers, second to
that of the United States, the agency said. Japan's population
is among the oldest in the world with its share of elderly at 26
percent.
Overall, Canada's estimated population was 35.85 million, up
0.9 percent over the last year. Although that was the lowest
population increase since 1998-99, it was the largest increase
among G7 countries over a comparable period, the report said.

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