Canada’s federal government has implemented sharp reductions in temporary resident arrivals under the 2026-2028 Immigration Levels Plan, targeting fewer international students and workers to bring non-permanent residents below 5% of the total population by the end of 2027. Permanent resident admissions have stabilized near 380,000 annually. Statistics Canada data through July 2026 showed the population reaching 41.8 million with 0.5% year-over-year growth—the slowest pace in over a century—driven almost entirely by net international migration amid declining non-permanent residents and minimal natural increase. Projections from earlier analyses anticipated flat or negative annual growth for 2026 as outflows continue, supporting trader consensus on a net decline despite quarterly revisions that revised some prior estimates upward.