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Scotiabank

June 17, 2026

Population in Canada Peaks and Valleys

Macro ThematicMacro Economic IndicatorsOther

Canada's population has contracted for three consecutive quarters as federal immigration restrictions significantly reduce the number of temporary residents and students. The report warns that these sharp declines may lead to labour market gaps and structural economic challenges.

Key Takeaways

  • 1.Canada experienced a total population contraction of 55,025 for the quarter ending April 1, 2026, marking three consecutive quarters of decline.
  • 2.The international student population has declined rapidly to under 620,000, significantly impacting university and college tuition revenues.
  • 3.New temporary worker and student arrival levels are significantly underperforming federal caps, which may lead to a future population overcorrection and regional labour shortages.

Table of Contents

  • Canada's population trends are firmly in the negative
  • Permanent residents—a bit behind on quantity, on pace with quality
  • Temporary residents—have Canada's tight immigration controls dampened international appeal?

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