In 2022, the impact of the new crown epidemic appears to be fading in Canada. According to Statistics Canada’s employment report, the unemployment rate has remained at an all-time low of 4.9 percent for several months. But the fact remains that the Canadian economy still faces challenges.
In the previous 12 months, a record 300,000 Canadians have retired, up 15% from pre-pandemic levels and nearly 30% from last year, according to Statistics Canada’s July employment report issued last week. The survey made it clear that several demographic groups, including those in their forties and younger, are starting to prefer to take early retirements for “retirement.” As everyone is aware, Canada’s customary retirement age is 65. However, compared to the previous year, the number of retirees aged 55 to 65 climbed by 50%.
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