Conference Board of Canada’s New Study Forecasts the Impact of Immigration in Canada’s Labour Market!

Can’t Go it Alone. Immigration is Key to Canada’s Growth Strategy – The Conference Board of Canada

For generations, Immigrants and their descendants have made countless contributions to develop Canada into a strong and vibrant country. That is why Canada will continue to rely on immigration for its labour market and community growth.
Yes, we have mentioned the statement many times in our posts. But this time it was briefed by The Conference Board of Canada.

Canada’s Expectations on Immigration and Immigrants

The board authorities announced their conclusion after analysing a variety of labour force scenarios and economic growth over the years 2018 to 2040. Here are the key findings of the study!

  • Due to the ageing population and low fertility rate, Canada needs new sources of talent to enter the labour force to maintain its high living standards. Read More!

  • The study also adds, nearly one-quarter of the population will be 65 or older in 2040 compared with 17% today. It means in the absence of labour force growth solutions, Canada would face even greater pressure to fund the health care that its citizens increasingly rely upon in their senior years.

  • Between 2018 and 2040, 11.8 million people will leave Canadian schools and become workers. Yet there will be a shortage of 13.4 million workers in the existing labour force.

  • Even with adding 2.2 million workers to the labour market by 2040 (that includes more women, Indigenous people, visible minorities, discouraged workers and disengaged youth and persons with disabilities), Canada will be unable to fill the job vacancies.

  • Immigration will remain a formative solution for all of Canada’s net labour force growth of 3.7 million workers and one-third of the economic growth rate between 2018 to 2040.

On 8th May 2019, the Conference Board of Canada has started the national dialogues on the above-mentioned immigration queries in a summit and will continue on 9th May 2019 as well, in Ottawa. The board has themed it as “The Canadian Immigration Summit 2019, Expanding Our Horizons”. In addition, the Summit speakers will converse on how the Canadian economic, social, and technological changes are likely to influence the immigration system over the next decade.

Know About The Conference Board of Canada

  • The foremost independent, non-profit, applied research organization in Canada.

  • Objective and non-partisan.

  • Experts in running conferences but also at conducting, publishing, and disseminating research; helping people network; developing individual leadership skills and building organizational capacity.

  • Specialists in economic trends, as well as organizational performance and public policy issues.

  • Not a government department or agency, although it is often hired to provide services for all levels of government.

What Should You Understand?

Canada considers the migrants as the game changers and growth stimulators for the country. The summit’s objective is to find ways to drive macroeconomic benefits by tapping into the talent sources that come by immigration or from other talent pools.

In addition to identifying various sources of talent to support the workforce, Canada should focus on promoting economic growth and high living standards.

Although technological advancement will likely improve Canada’s productivity in the coming decades, on the other hand, there are concerns about these advances harming a few jobs.

As past experiences have shown, the outcome of technological advancement is a shift toward specialized occupations, requiring higher-skilled workers. But still, it is unlikely that skill requirements (like automation or artificial intelligence) will have a destructive impact on jobs.

While the process of creative destruction may result in lost jobs in some areas of the economy, it will also lead to the development of new ones. To your reference, we are linking the post, where we talked about the occupations that are expected to be in Demand in the Candian labour market in 2019.

To Conclude

Canada is a nation of rich ethnicity thanks to the well-managed immigration system that invites immigrants from 190 countries, across the globe.

It’s truly is an amazing achievement to build such a diversified country. Another place like India, where you can live your dream. Also, Canada is one of the countries that reach out to its immigrants to offer help.

After landing, it provides free training programs for jobs and services that would guide immigrants to settle down in the country. What makes Canada attractive is that– it recognizes the importance of reuniting families and has designed many immigration programs to keep the families together.

So, what are you waiting for? In today’s world, if there is a country willing to take immigrants, moreover desperately needs migrant professionals, Canada would take the top spot on the list.

Leaving aside this summit, with all the news you see on how Candian government is devoted to skilled migration, it should be a call for you to wake up and seize the opportunity of a beautiful life in a foreign country, a dream you deserve!

If you are not sure you can do it, our immigration experts are here to guide you. Call us for a brief discussion. Or you can respond to the email with your prefered schedule.

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