As the biggest demographic wave in Canada's history reaches retirement age, Nova Scotia is suggesting encouraging baby boomers to work longer, in order to help weather the coming economic storm.
Nova Scotia will be the country's first province to set up a department devoted entirely to seniors, a one-stop shop for all issues that relate to the province's aging population.
These days, 19% of Nova Scotians are over 65. By 2040, that will grow to 30%. More and more, the province says, all of its policies and programs will need to have a "seniors lens" applied to them.
Statistics Canada says by 2030, the year in which the youngest baby boomers will reach 65, close to one in four people in Canada will be that age or older. That compares to 15.3% in 2013.
Nova Scotia and New Brunswick reportedly boast the oldest populations in the country, a fact that could spell trouble for Maritime economies.
Data released this week by the Conference Board of Canada also projects that the exodus of retirees from the workforce will slow Canada's economic growth to an annualized rate of 1.7% in the years between 2019 and 2021. That compares to a rate averaging 2.8% between 2000 and 2008.
Last week, the provincial government announced a 50-point action plan aimed at keeping older Nova Scotians involved in their communities and keeping more of them in the workforce.
