The demographic tsunami

The following data provides a little insight into the demographic tsunami.  I have tried to show this in different ways to illustrate the point.

The first table shows the young and over 65 population age cohorts in 1971 and 2010.  In 1971, the median age in Atl. Canada was lower than Alberta.

The second table compares the number of person collecting the child tax benefit compared to those collecting CPP – just between 2000 and 2009 (a relatively short period of time).  In Atlantic Canada we are approaching the point where we will have two persons on CPP for every one person collecting CTB.

The third table shows the ratio of CPP recipients to employment income earners – a variation on the dependency ratio theme.  In NS, there are four CPP recipients for every 10 employment income earners.

The final chart shows the employment rate.  While not shown in the chart, the employment rate among those 55 and up is lower in NS, NB and NL than all other provinces and in most cases by a fairly wide margin.

All the data is based on Statistics Canada tables.

 

 Changing Age Profile 1971 and 2010

NL

1971

2010

% Change

Under 20

256,577

106,015

-59%

Over 65

32,459

77,576

139%

Median Age

20.9

43.3

107%

PEI

1971

2010

%Change

Under 20

47,206

33,270

-30%

Over 65

12,404

22,230

79%

Median Age

24.8

42.1

70%

NS

1971

2010

%Change

Under 20

322,969

199,824

-38%

Over 65

72,849

151,160

107%

Median Age

25.4

42.8

69%

AB

1971

2010

%Change

Under 20

685,945

922,308

34%

Over 65

120,453

396,169

229%

Median Age

24.9

35.8

44%

 

Ratio of those collecting Canada Child Tax Benefit  to those collecting Canada Pension Plan (CPP)  – CTB recipients per 100 CPP recipients

2000

2009

% Change

CAN

75.9

65.4

-14%

NL

84.9

53.2

-37%

PEI

77.0

57.2

-26%

NS

68.6

51.3

-25%

NB

76.4

54.9

-28%

 

Ratio of those collecting CPP to those reporting employment income – CPP recipients per 100 employment income earners

2000

2009

% Change

CAN

27.3

31.1

14%

NL

30.2

38.8

28%

PEI

29.4

36.9

25%

NS

33.8

40.0

18%

NB

30.3

37.9

25%

 

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