The postwar baby boom of the 1950s enabled the town to reach a peak population of 8,600 in 1961. The loss of St. Thomas University, which moved to Fredericton in 1964 adversely affected the town in combination with other changes. The closure of CFB Chatham in 1996 further reduced local employment. The nursing school run by the Religious Hospitaliers of St. Joseph closed soon after the move of St. Thomas University. The loss of these two educational institutions was both symbolic and contributed to Chatham's decline.