The “baby boomer” generation is represented by those who were born between 1946 and 1964. According to Environics Analytics, Canada’s born baby boomers combined with immigrants who are in the same age bracket will give our nation a significantly high number of seniors in 20 years. Owned by Bell Canada, the marketing and analytical services company estimates that there are currently about 7.6 million people aged 65 and older in Canada. They expect that number to hit 11 million by 2043.
This information comes courtesy of CTVNews.ca producer, Jennifer Ferreira. In her recently-posted article entitled, “This is what Canada will look like in 20 years – are we ready for an aging population?” she highlights Canada’s rapidly growing senior population. “Canada is home to nearly 13,500 centenarians, a 43 per cent increase compared to 2018, according to the latest data from Statistics Canada,” she informs.
Ferreira warns that industry experts fear that Canada is unprepared for its aging population. She notes that sectors such as health care, employment and housing don’t have proper systems or equipment to adequately address the current needs of seniors today.
The quality of health care is a major issue.
Canada’s healthcare sector will be met with one of the most significant challenges brought on by the nation’s aging population. In the article, demographer Doug Norris highlights the fact that the pandemic exposed poor conditions in Canada’s long-term care system.
“Adding to the problem is the fact that many of these health-care workers, such as physicians, are getting older themselves and preparing to leave the workforce,” points out Ferreira, “Data from the Canadian Institute for Health Information shows approximately nine per cent of physicians were 65 years of age and older in 2000, while seven per cent were between the ages of 60 and 64. By 2022, 15 per cent of physicians in Canada were aged 65 and older, and nearly 10 per cent were 60 to 64 years of age.”
A growing senior population has large implications for the economy.
According to data from Statistics Canada, there are approximately 4.5 million Canadians aged 15 to 24 who are of working age, as of April 2023. At the same point in time, 12.3 million people aged 55 and older were considered of working age. Clearly, there is an imbalance in the numbers. Canada’s aging workforce is often blamed by various industries for labour shortages.
Fewer workers can lead to slower economic growth, Norris notes. This can impact the work/life balance of Canadians who could be forced to work more hours. However, it may also propel different sectors to give higher-paying job opportunities to younger candidates.
Living alone increases with age.
StatsCan reveals that about one in four seniors live alone, relays Ferreira. This is most common among women aged 65 and older, she reports. The average life expectancy for is 79.49 years for men and 83.96 years for women. Many seniors – especially those aged 85 and older – live in nursing homes and long-term care facilities. However, most prefer to live in the communities they were brought up in.
At LifeCare Mobility Solutions, we’re committed to helping seniors age in place. Do you have a loved one who is a member of Canada’s aging population? If so, please don’t hesitate to contact us to learn all about our mobility aids and solutions. Call us at 416-267-9800 or email us at email@example.com. You may also fill out the form on our Contact page!