Yes, I suspect this is the case. And whoever gets drawn doesn't go in immediately. The population is actually expected to shrink over the coming decades. People die, people refuse to have children, and people move
out of Canada to other countries (like the US). The immigration levels right now only offset the population decline. So, any growth would come from kids. That's why if you hear any arguments against immigration because of "unsustainable growth", you know it's nonsense. The pandemic will pass (and Canada is already doing much better), and the need for EE immigrants hasn't faded. We help keep the economy going over the long-term.