The workforce in Canada is aging significantly, prompting concern from analysts about the impending threat of labour shortages across the country.
The findings, released Tuesday by Statistics Canada, show 15.3 per cent of Canadian workers are 55 or older and nearing retirement.
That figure was up from 11.7 per cent in 2001.
"This was the result of the baby boom generation approaching retirement age, and the increased tendency for older workers to participate in the labour force," says the 'Canada's Changing Labour Force' report.
For the first time ever, there are just as many workers in Canada over 40 as there are under.
According to the census, more than two million people aged 55 to 64 were employed in 2006 -- 43 per cent more than in 2001.
Among the occupations with the oldest workers:
- Farmers
- Real estate agents
- Bus drivers
In 2006, there were 1.9 Canadians aged 20-34 entering the workforce for every person aged 55-64 leaving.
In 2001, there were 2.7 replacement workers for every retiree. Twenty-five years ago, there were 3.7.
"The fact is it's the workaholic boomers who are going and young people who are not prepared to be their parents to take their place," Linda Duxbury, a labour specialist at Carleton University's Sprott School of Business, told CTV's Canada AM on Tuesday.
Statistics Canada analyst Geoff Bowlby said the labour market could take 20 years to correct itself.
"We know the Canadian workforce is getting older. We know that it is inevitable that baby boomers approaching retirement will eventually retire or leave the labour market,'' Bowlby said.
"That will have an impact on the labour market well into the future, probably for the next two decades.''
Earlier this year, a Conference Board of Canada report warned that 90,000 jobs in the tech industry need to be filled over the next three years.
If not, the economy will take a $10-billion blow, said the report.
Between 2001 and 2006, Canada's overall annual employment growth -- 1.7 per cent each year -- increased faster than any of the G7 nations.
With files from The Canadian Press
