Prediction
Fill-in-the-Blank:
Canada will have a population of xx.x million people by January 1, 2025.
Please account for any changes that would impact fertility and mortality of, and immigration to and emigration from Canada, between October 1st and December 31st, 2023. Also incorporate the October 1st population estimated by Statistics Canada. (View Statement)
Value: 41.5
Extends: None
Forecasts Extending This One: 264
Justification
Written on April 4, 2024, 9:20 p.m.
Given the projections from our statistical model and the supplied facts, we can construct a forecast for Canada's population by January 1, 2025. The model projects a population of 41.6 million by the end of Q4 2024 [AF2], and 42.6 million by the end of Q4 2025 [AF3]. This suggests an increase of 1 million people over the course of the year 2025.
Applying this growth rate uniformly across the 12 months of 2025 for simplicity, we can infer a monthly increase of approximately 83,333 people (1,000,000 divided by 12). If we project this rate back to the beginning of 2025, from the end of December 2024, the population would be reduced by approximately 83,333 people, placing it somewhere around 41.516 million by January 1, 2025.
However, considering Canada’s detailed approach towards immigration, which is the main driver of its population growth [1], and the planned increases in immigration levels as part of its 2023-2025 Immigration Levels Plan aiming to welcome a higher number of permanent residents each year up to 550,000 by 2025 [2], an acceleration in population growth can be expected towards the end of 2024. This is especially significant because immigration accounts for nearly all of Canada's labor force growth [3] and is projected to account for 100% of its population growth by 2032. The increased immigration in response to economic needs and to mitigate the effects of an aging population [4] could potentially increase the rate of population growth above the linear projection.
Also noteworthy is the potential impact of natural population growth and its expected decrease, with a forecast of it becoming negative between 2049 and 2058 [5]. However, this factor is less immediately relevant for the 2024-2025 projection but underscores the critical role of immigration in Canada's population growth strategy.
Taking into account the planned increase in the number of permanent residents [6], along with a straightforward projection using the statistical model's quarterly increases without adjusting for seasonal or policy-driven fluctuations in immigration or natural growth rates, the end-of-year projection by the statistical model appears to be a solid basis for a near-term forecast.
Considering these factors, the additional growth due to planned immigration increases towards the end of 2024 and the beginning of 2025 might slightly offset the uniform monthly increase assumption, but without specific monthly data, sticking to the statistical model's quarterly forecast provides a clear and fact-based projection.
Therefore, acknowledging a slight potential for underestimation due to the factors mentioned, a rounded but primarily model-based forecast brings us to:
Canada will have a population of 41.5 million people by January 1, 2025.
Sources:
1 ::
https://www.linkedin.com/pulse/why-immigration-important-canadas-population-growth-amir-ismail
2 ::
https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/departmental-plan-2023-2024/departmental-plan.html
3 ::
https://www.canada.ca/en/immigration-refugees-citizenship/news/2022/11/an-immigration-plan-to-grow-the-economy.html
4 ::
https://www.linkedin.com/pulse/why-immigration-important-canadas-population-growth-amir-ismail
5 :: https://www150.
statcan.gc.ca/n1/daily-quotidien/220822/dq220822b-eng.htm
6 ::
https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/departmental-plan-2023-2024/departmental-plan.html