Canadians Retirement

A Record Number Of Canadians Are Facing Retirement

A Record Number Of Canadians Are Facing Retirement

Statistics Canada released a new round of data April 27 from the 2021 census. Laurent Martel, director of the organization’s Centre for Demography, said the number of working-age people facing retirement has never been this high.

“One in five Canadians among the working-age population is currently between the age of 55 and 64, likely to exit the labour force if not already done,” Martel told reporters on Wednesday.

According to the data, nearly 22 percent of working-age people across Canada fall into that category.

Canada is facing record retirements from an aging labour force amid high job vacancies and historically low unemployment.

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