Federal immigration policy under the 2026-2028 Immigration Levels Plan has stabilized permanent resident admissions at 380,000 per year while cutting temporary resident targets by more than 40 percent from 2025 levels. This follows the sharp reductions that produced Canada’s first annual population decline on record in 2025, when net outflows of non-permanent residents drove a roughly 102,000 drop. Parliamentary Budget Officer projections and economic analyses now point to near-zero or flat growth through 2026 as non-permanent resident inflows continue to normalize toward the 5 percent population-share target by the end of 2027. These sustained but decelerating outflows reduce the likelihood that the 2026 contraction will surpass the prior year’s historic low.