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Originally Posted by CliffFletcher
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I "think" this is the article without the payment block.
https://financialpost.com/news/canad...conomists-warn
Population is growing faster than the economy can handle, says National
Canada is caught in a “population trap” for the first time in modern history and needs to limit immigration to escape it, say economists with the National Bank of Canada.
A population trap, according to Oxford dictionary, is when the population is growing so fast that all available savings are needed to maintain the existing capital–labour ratio, making any increase in living standards impossible.
National Bank’s report joins the growing chorus of concern that the influx of newcomers over the past two years, many of whom are temporary workers or students, is too much for the economy to handle.
From a global perspective Canada’s population growth of 3.2 per cent last year was five times higher than the average of Organisation for Economic Co-operation and Development nations.
“We currently lack the infrastructure and capital stock in this country to adequately absorb current population growth and improve our standard of living,” said the economists.
No where is this strain more evident than in housing, they say.
National says the shortfall has reached a record of only one housing start for every 4.2 people entering the working-age population. The historical average is 1.8.
Excessive population growth is also impeding economic well-being, they argue. A fact they say is underscored by real gross domestic product growth per capita stagnating for six years in a row.