Canada Faces Structural Labour Shifts as Boomer Retirements Peak
- ClearView Insider
- Oct 15
- 1 min read
Canada’s labour market is entering a new phase as baby boomer retirements hit their peak. By 2030, 92% of boomers will be over 65, pushing the national labour force participation rate from 65.3% to 63.4%—a drop larger than the last 14 years combined. This tightening supply comes just as labour market weakness is expected to unwind.
Alberta and Calgary, with their reliance on construction, real estate, agriculture, and support services—all sectors with aging workforces—will likely feel the squeeze earlier. At the same time, rising senior dependency ratios and health care costs will place greater fiscal pressure on public budgets, with health care spending projected to climb steeply as boomers age into their 70s and 80s.
Even high immigration rates have only temporarily slowed demographic aging, and recent federal policy reversals are expected to result in near-zero population growth in 2026 and 2027. While post-boomer generations may bring temporary relief, structural workforce pressures are here to stay—reshaping everything from public finance to CRE strategy.
Source: RBC Economics. Post-boomer reprieve coming for labour force but so is age-related spending, September 24 2025.
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