Babies and Birth Rates

Canada's birth rate nudged up in 2005 as more women in their thirties had children. According to the Globe and Mail:

Canada's total fertility rate in 2005 was 1.54 children per woman, an increase from 1.53 in the previous year and the highest rate since 1998.

But that's is still well below what is known as replacement-level fertility, which is 2.1 children per woman, and way behind the 3.6 in 1947.

What does this mean? Canada's population will be growing older. This will require longterm adjustments: there will be more retirees and fewer workers.