Pitney Bowes Business Insight's Momentum™ Report Forecasts Canada's Demographic Future
Surge in Population Growth in Canada’s Major Metros Fuels Labour Force Growth and an Aging Population
TORONTO, April 13, 2010 - Pitney Bowes Business Insight, the leading global provider of location and communication intelligence solutions, today announced research findings on the major metros in Canada projected to experience the greatest population growth and the potential impact this growth will have on increasing the labour force and shifting the population’s age composition. The findings appear in the latest issue of Momentum: Demographic Insights™ quarterly research report focusing on Canadian demographic trends and forecasts important to business leaders.
Taking into account the latest trends as distilled by Statistics Canada and applying sophisticated modeling capabilities to all geographies across Canada, Pitney Bowes Business Insight reveals compelling research on the key demographic trends most likely to shape consumer demand over the next 10 years in the major Canadian metros. Highlights of the research include:
Top High-Growth Metros—Pitney Bowes Business Insight projects that 96 percent of Canada’s population growth between 2010 and 2020 will occur in four provinces: Ontario (43 percent), Quebec (21 percent), British Columbia (19 percent) and Alberta (13 percent). Given this concentrated growth scenario, it is no surprise that the metros within these provinces will capture a majority of the growth. Metros projected to have the highest population growth include:
Swelling Labour Force—The impact of population growth on the local labour force is measured by the labour force participation rate, which includes the employed, as well as those who are actively looking for work. Pitney Bowes Business Insight estimated a combined rate for the combined household population aged 15 and older in Canada’s major metros. The top five metros with the greatest increase in workers in the next 10 years are:
Labour Force Growth
Canada’s Aging Metros—Populations age at different rates depending on shifting age composition. If the number of people aged 45 and older grows faster than the number of people under age 45, the average age of the metro’s population will increase. Saskatoon and Calgary are Canada’s “youngest” metros with average ages of 35.5 and 36 years, respectively. Trois-Rivieres and Cape Breton are Canada’s “oldest” metros with average ages of 44.8 and 45.6, respectively.
One of the major implications of an aging population on the labour force and the local economy is the rising dependency ratio, which occurs when more workers retire than the number of new or returning workers to the workforce. While the bustling city of Toronto has one of the lower dependency ratios compared to other large metros, Saguenay, a destination for tourists who enjoy the outdoors, has one of the highest dependency ratios.
“While many factors influence consumer demand, including price points, popular fads and people’s needs and wants, companies across all industries need to take into account the underlying demographic trends affecting their target customers and markets,” said Thomas G. Exter, chief demographer, Pitney Bowes Business Insight. “By providing valuable insight into timely demographic characteristics and trends, Pitney Bowes Business Insight enables companies to gain a greater understanding of how these changes may impact consumer demand, enabling them to make more strategic decisions on how to attract and retain these customers.”
For more information on Momentum: Demographic Insights and to access the full report, please visit www.mapinfo.ca/momentum.
About Pitney Bowes Business Insight
Pitney Bowes Business Insight (PBBI), a division of Pitney Bowes Software Inc., a wholly-owned subsidiary of Pitney Bowes Inc., provides a unique combination of location and communication intelligence software, data and services that enable organizations to make more informed decisions about customers, competition and market expansion. With the industry’s most comprehensive set of solutions for maximizing the value of customer data, PBBI provides the tools required to more effectively locate, connect and communicate with customers in today’s global markets. Leading organizations rely on PBBI solutions to increase the accuracy and effectiveness of customer information delivery and drive profitable growth. Visit www.pbbusinessinsight.com and www.pb.com for more information.
This press release contains forward-looking statements involving risks and uncertainties. Any statement not a statement of historical fact is a forward-looking statement, including without limitation statements concerning demand for and benefits of Pitney Bowes products and integration of its products with existing solutions. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in the Company’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission under the heading “Risk Factors.” Pitney Bowes takes no responsibility to update any forward-looking statements.