As reported by Statistics Canada, more Canadians are expected to depart the labor market than join it during the next few decades. According to experts, this will exacerbate existing labor shortages and drive up wages. According to the survey, the aging workforce outnumbers all others in the country.
Based on Statistics Canada's most recent Labor Force Survey, there were 4.4 million persons aged 55 and older in the labor force in November of this year. Between the ages of 15 and 24, there are around 2.7 million employed Canadians in Canada. According to the figures, more people are exiting the labor force. According to the report, the country's elderly population is rising.