Canada’s population growth has slowed sharply in 2026 due to federal immigration policy adjustments under the 2026–2028 Immigration Levels Plan. Permanent resident admissions have been stabilized near 380,000 annually while temporary resident arrivals face reduced targets of 385,000 in 2026, down from prior peaks, alongside tighter caps on international students and work permits. Statistics Canada data released in September showed the population at 41.8 million on July 1 with just 0.5% year-over-year growth—the weakest pace since 1915—driven primarily by a net outflow of non-permanent residents. Natural increase remains modest amid low fertility rates. These measures, intended to ease pressures on housing and services, have produced the smallest quarterly gains in years and underpin trader views that a full-year decline remains possible.