Federal immigration policy changes under the 2026-2028 Immigration Levels Plan, which cap permanent resident admissions at 380,000 annually while sharply limiting new temporary resident inflows to around 385,000, have stabilized net migration after the record 0.2 percent population contraction recorded in 2025. Parliamentary Budget Officer projections indicate flat overall growth for 2026, with continued outflows among non-permanent residents offset by steady permanent inflows and low natural increase, pointing to a smaller decline than the prior year's unprecedented drop. Statistics Canada quarterly estimates through early 2026 show moderating quarterly losses tied to these caps, though revisions from permit extensions or regional economic shifts could alter final annual figures and keep 2026 from matching or exceeding historical maxima.