Given that the baby boomer generation is getting older and currently transitioning from the labour force to retirement, their needs are different today. The Canadian population is made up of various generations of different sizes, and each influences society according to their world view, characteristics, values and stage in their life cycle. Millennials also accounted for more than one-third (35.1%) of the downtown population of large urban centres in Canada in 2021, while baby boomers accounted for one-fifth (20.9%) of it.Millennials outnumber baby boomers in Alberta (23.3% versus 21.4%), Yukon (25.0% versus 24.2%), the Northwest Territories (25.2% versus 19.2%), and Nunavut (24.1% versus 10.6%).Millennials are the generation that accounts for the largest share of the working-age population (33.2%), or those aged 15 to 64.This increase is due to immigration, despite the impact of the COVID-19 pandemic on recent immigration. Millennials, who are those born between 19 and were between 25 and 40 years old in 2021, are the fastest-growing generation.They represent 24.9% of the Canadian population, compared with 41.7% in 1966, when they were under the age of 20. For the first time since the end of the baby boom, baby boomers-who were born between 19 and were between the ages of 56 and 75 in 2021-make up less than a quarter of the Canadian population.These changes will have significant consequences, particularly on the labour market, services to seniors, and the consumption of goods and services. The Canadian population is changing due to baby boomers getting older and immigration boosting numbers in the younger generations.
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