The Trudeau government declared on March 21, 2024, that it would accept fewer temporary residents due to the difficulty of assimilating so many newcomers so quickly. However, population growth appears to be accelerating in 2024.

Statistics Canada’s Labour Force Survey, the population aged 15 and over increased by approximately 411,000 in the first four months of the year, representing a than 50% increase over the four-month growth in early 2023.

This new acceleration was the focus of a recent research paper by Stéfane Marion, chief economist at the National Bank of Canada. “The demographic shock is getting worse in Canada,” he told Canada’s Globe and Mail.

Canada is seeing its strongest population expansion in decades, thanks almost exclusively to foreign migration, which includes the entrance of temporary workers and students. The population increased by about 1.3 million last year, or 3.2%, the fastest rate since the late 1950s.

Every month, tens of thousands of households participate in Statistics Canada’s labour survey. While the government includes population data in its monthly jobs report, they are not official estimates. Statscan publishes a different population report on a quarterly basis; the next edition is due June 19.

Nonetheless, these data indicate that Canada’s economy has remained strong to begin the year, which could complicate the federal government’s efforts to limit migration.

For the first time, the Trudeau government will impose limits on temporary residents beginning this fall. The government aims to reduce this group to 5% of the total population during the next three years; at latest count, they accounted for 6.5%.

Given those plans, “it would seem that many people have decided to come to Canada earlier,” Mr. Marion said, stressing that housing affordability may worsen in the short term.

Several analysts have predicted that Canada’s population growth will eventually decrease to approximately 1% when these new laws take effect.

Housing Affordability in Canada

Meanwhile, Stéfane Marion fears that housing affordability difficulties will increase amid another surge in immigration numbers.

“Demographic shock is worsening in Canada. The working-age population (aged 15 and over) increased by more than 100,000 in April, bringing the total to more than 410,000 after four months in 2024.

According to today’s Hot Chart, this is a significant acceleration (+47%) above the 278,000 increase seen in the first four months of 2023. Greater Toronto, where population growth hit a record 107,000 at the start of the year, has accelerated by 66% compared to 2023.

Greater Montreal and Greater Vancouver have not lagged behind since the beginning of 2024, with growth more than doubling that recorded in 2023.

With Canada’s Minister of Immigration, Refugees, and Citizenship, Marc Miller, announcing plans to curb immigration in 2025, it appears that many people have decided to come to Canada sooner.

Housing affordability issues could increase in the coming quarters, as we approach another record year of population growth.

RBC indicates a loss of affordability in Canada

RBC’s aggregate affordability score for Canada increased by 2.8 percentage points to 62.5% as mortgage rates rose and property prices rose somewhat. (An increase in the measure indicates a loss of affordability.) This reversed a little improvement in the second quarter.

The issue is particularly acute in Vancouver, Victoria, and Toronto, where property ownership is extremely expensive. Ottawa, Montreal, and Halifax also confront difficult affordability issues.

Last quarter, purchasers’ already bad situation deteriorated even further. A typical household required to set aside an additional 4.4 percentage points of its income to afford the costs of owning an average home at current prices and interest rates.

In fact, the entire income of that (median) household was insufficient, with RBC’s aggregate affordability metric coming in at an amazing 102.6%. The only practical choice for most ordinary consumers remains a less expensive condo apartment, which is still out of reach for many.

Home purchase activity has cooled again after unexpectedly rebounding last spring. Furthermore, prices are beginning to fall from their summer highs. In the face of significant affordability pressures, we believe the downward trend may accelerate in the near term.

Keywords: Canada News, Canada Population

Justin Trudeau’s Liberal Party’s popularity has plummeted to record lows  in recent polls. Scandals and his carbon tax weakened Trudeau’s support after years of support. Many election Analysts belive Justin Trudeau and his Liberals will not survive the next election.

The newest Angus Reid survey shows the Conservatives leading nationwide, with Trudeau and his Liberals losing support in most provinces, especially Ontario and Quebec. Analysts say Trudeau’s leadership fatigue, unhappiness over inflation, ridiculous carbon tax, and continual policy flip-flopping are driving voters away.

Trudeau’s carbon tax is unpopular across Canada. Many Canadians hate its higher prices for homes and businesses.

Critics say it unfairly targets energy, threatening jobs and prosperity. Skeptics believe the tax fails to solve global climate challenges despite claims it will reduce emissions.

Provincial governments like Alberta passionately oppose federal intrusion. The carbon tax still divides society.

Steven Guilbeault, Trudeau’s Environment and Climate Change Minister, has lost support from neutral public and provincial governments and the powerful climate action lobby.

Don Braid of the Calgary Herald says Chickens with their heads cut off run around in circles. In politics, the federal Liberals are starting to exhibit this postmortem behaviour.

BEIJING — On Thursday, Russian President Vladimir Putin and Chinese President Xi Jinping reiterated their “no-limits” friendship, which has expanded as both countries face mounting tensions with the West, and blasted US military deployments in Asia and the Pacific.

At their summit in Beijing, Putin hailed Xi for China’s recommendations to settle the conflict in Ukraine, which Ukraine and its Western allies have rejected as mostly adopting the Kremlin’s line.

Putin’s two-day state visit to one of his biggest allies and commercial partners comes as Russian forces launch an operation in northeastern Ukraine’s Kharkiv region, marking the most serious border incursion since the full-scale invasion began on February 24, 2022.

China claims to be impartial in the crisis, but it has supported the Kremlin’s accusations that the West led Russia into attacking Ukraine, and it continues to supply vital components required by Moscow for weapons manufacture.

AP – VOR News Image

China And Russia Reaffirm Their Close Ties As Moscow Presses Its Offensive In Ukraine

China, which has not condemned the invasion, suggested a broad-based peace plan in 2023, calling for a cease-fire and direct talks between Moscow and Kyiv. Both Ukraine and the West rejected the idea because it did not call on Russia to vacate Ukraine’s occupied territories.

China also lent a verbal nod to Russia’s narrative about Nazism in Ukraine, with a joint statement issued Thursday saying Moscow and Beijing should protect the post-World War II order and “severely condemn the glorification of or even attempts to revive Nazism and militarism.”

Putin has claimed the “denazification” of Ukraine as a primary purpose of the military action, falsely referring to Ukrainian President Volodymyr Zelenskyy’s government as neo-Nazis.

The mostly symbolic and ceremonial visit emphasized cooperation between two countries facing challenges in their relations with the United States and Europe.

“Both sides want to show that despite what is happening globally, despite the pressure that both sides are facing from the U.S., both sides are not about to turn their backs on each other anytime soon,” said Hoo Tiang Boon, a Chinese foreign policy researcher at Singapore’s Nanyang Technological University.

While Putin and Xi stated they wanted to stop the war, they made no new ideas in their public remarks.

“China hopes for the early return of Europe to peace and stability and will continue to play a constructive role toward this,” Xi said in prepared remarks to the media in Beijing’s Great Hall of the People. His statements echoed China’s overarching peace initiative.

Earlier in the day, Putin was greeted in Tiananmen Square with military fanfare and cannon fire.

On the eve of his visit, Putin stated that China’s proposal may “lay the groundwork for a political and diplomatic process that would take Russia’s security concerns into account and contribute to achieving long-term and sustainable peace.”

Zelenskyy has stated that any negotiations must entail the restoration of Ukraine’s territorial integrity, the departure of Russian soldiers, the release of all captives, a tribunal for those responsible for the assault, and security assurances for Ukraine.

AP – VOR news Image

China And Russia Reaffirm Their Close Ties As Moscow Presses Its Offensive In Ukraine

Putin said he would brief Xi on the situation in Ukraine, adding, “We appreciate the initiative of our Chinese colleagues and friends to regulate the situation.”

Following Russia’s latest attack in Ukraine last week, the war has reached a crucial point as Ukraine’s depleted military awaits new supplies of anti-aircraft missiles and artillery rounds from the United States, which have been delayed for months.

China and Russia’s joint statement also harshly slammed US foreign policy, citing US-formed alliances as having a “Cold War mentality.”

“Both sides expressed serious concern about the consequences caused to the strategic stability of the Asia-Pacific region by AUKUS,” according to the statement, referring to the acronym for Australia, the United Kingdom, and the United States.

China and Russia have accused the United States of installing land-based intermediate-range missile systems in the Asia-Pacific region under the guise of joint drills with allies. They claimed that the United States’ operations in Asia were “changing the balance of power” and “endangering the security of all countries in the region.”

The united declaration underscored China’s support for Russia.

“There’s so much Chinese falling over themselves to give Russia face and respect without saying anything specific, or committing to anything,” said Susan Thornton, a former diplomat and senior fellow at Yale Law School’s Paul Tsai China Center.

The meeting was another endorsement of China and Russia’s amicable “no limits” friendship, which they signed in 2022, just before Moscow invaded Ukraine.

Since then, Russia has been increasingly economically dependent on China since Western sanctions have limited its access to most of the global commercial system. China’s expanding commerce with Russia, which reached $240 billion last year, has helped the country buffer some of the worst effects of sanctions.

Moscow has transferred most of its energy exports to China and relied on Chinese enterprises to purchase high-tech components for Russian defense sectors to avoid Western sanctions.

AP – VOR News Image

China And Russia Reaffirm Their Close Ties As Moscow Presses Its Offensive In Ukraine

“I and President Putin agree we should actively look for convergence points of the interests of both countries, to develop each’s advantages, and deepen integration of interests, realizing each others’ achievements,” added Xi.

Xi congratulated Putin on the start of his fifth term in office and commemorated the 75th anniversary of diplomatic relations between the former Soviet Union and the People’s Republic of China, which were formed after a civil war in 1949. In the March election, Putin eliminated all significant political opponents and faced no serious threat. He, like Xi, has not spelled out a succession strategy.

“In a famous song of that time, 75 years ago — it is still performed today — there is a phrase that has become a catchphrase: ‘Russians and Chinese are brothers forever,'” Putin stated.

During the war, Russia and China expanded their military ties. In recent years, they have conducted several cooperative war simulations, including naval drills and long-range bomber patrols over the Sea of Japan and the East China Sea. Russian and Chinese ground forces have also moved to the other country’s territory to conduct joint training.

China continues to be a major market for Russian military hardware, while the country’s defense industry is rapidly developing, including the production of aircraft carriers and nuclear submarines.

Putin has already stated that Russia has shared highly sensitive military technologies with China, considerably improving its defense strength.

SOURCE -(AP)