Statistics Canada reported on March 18 that Canada's population fell by 103,504 to 41,472,081 as of January 1, 2026—the first quarterly year-over-year decline on record since the 1940s—driven by a 171,296 drop in non-permanent residents amid federal cuts to temporary resident targets. The government's 2026-2028 immigration levels plan sets permanent resident admissions at 380,000, down from prior years, with temporary arrivals capped at 385,000, reflecting policy shifts to address housing pressures and economic capacity. Parliamentary Budget Officer projections from February anticipated flat growth for 2026, reinforcing trader consensus that net population will end the year below 2025 levels despite potential upticks in later quarters.