Toronto's Future | All About Toronto

Toronto’s Future

Over the next decade we will likely see some major changes in our city and that is evident by the available stats. The graph below shows the age characteristic of the population of Toronto. You notice there is a major spike in the number of people who are between 45-50.

These are the baby boomer’s who are fast approaching retirement. The question is whether they will stay a few more years or decide to return to work after a few years of retirement. Either way, the workforce will never be the same.

In order to cater for this group there will be significant growth in the health occupations. We will likely see a drop in manufacturing manufacturing has shifted more towards green products that are in high demand.

Occupation

The construction industry will likely grow if there is an increase in immigration. We need to have a large enough labor force to cover the shortfall. This could either be done by increase immigration numbers or more people continuing to work.

Industry

We will also see a noticeable shift from cars to public transportation and cycling. In fact, it is more likely the baby boomer’s will retire away from the city and this along with the increase in driving costs will result in a some changes in our city traffic.

Mode of Transportation

The number of marriages will likely continue to drop and there will be an increase in the number of single families. This will likely lead to a ongoing demand for affordable housing and not so much for the high end houses. The baby boomers will likely be selling these off to pay for their retirements.

Marital Status

If you are setting up a business or a considering a career that is in high demand then you should have these factors in mind.