Millenials Now Outnumber Boomers In Canada Amid High Immigration

[RAMROD 117,008]

Maturally. It's a high times for us Millenials 🤭🤭

[Mister G 10,512]

8 hours ago, dit said:

millennials are too many and too old (love millennials, I respect them and most of my hookups are probably with them so don't be offended, thank you)

I proudly own being a millennial inching toward his 40's.

[Economy 52,842]

1 hour ago, Bronco said:

Why do you think this is? 

Is it down to where the demographics are placed in the job market?

Theres a few theories why that is and tbh its probably a combination of several factors:

 

#1 Canadas real estate obsession and housing crisis/high prices are taking up a lot of capital from lending. This leads to less lending to businesses to invest, grow and update tools and machinery because not only is realestate lower risk which banks peioritize but its also expensive and it exhausts resources available in financial sector

 

They say Canadian businesses are no longer investing much but considering this drop came when realestate surged, it may simply be that accessing credit has gotten harder.

 

#2. Canada is highly monopolized, even more than the US. Large Corportations have often been sheltered perhaps in part to compete with much larger companies just south of the border, but that lack of competition may now be backfiring as these oligopolies have little sense of urgency to modernize and compete because they have little competition

 

#3. Canada has taken high rates of educated immigrants. They have a tendency to either succeed in their field (but not start their own businesses) or have barriers force them into lower jobs like warehousing but either way entrepreneurship rates are low and again bad for creating competition

 

#4 Over regulation and red tape is hurting start ups

 

Its hard to saw which theories have the most merit but probably it is multifactoral. All we know is Canada used to be in top 5 of wealthiest Countries by GDP Per Capita in the 1980s now its only top 20...

 

But the rate of stagnation has accelerated in last 15 years making me believe housing is a big factor