Posted on March 01 2023
Canada aims to welcome about 1. 5 million immigrants by 2025. It is projected that 60% of these immigrants will be accepted through several economic class programs.
Canada's population will be younger with the many immigrants entering the country. The new immigrants are of the core working age, i.e., 25 to 54 years. Retirees exit the labor force every year, and the country's median age is currently 41 years.
The massive influx of immigrants with the core age is causing societal benefits to the country. These immigrants are making the Canadian population self-sustaining and bringing other economic advantages.
The labor input is expected to grow with immigration, and the Canadian GDP per capita is also predicted to grow in the coming years.
Also, the influx is expected to decrease the Canadian economy's inflationary pressures and bolster the supply-side economy.
The job vacancies in Canada are at record highs, double compared to the pandemic years. Additionally, in a country where the aging population is exiting the country every year, the newcomers entering the country with desirable human capital factors and in-demand skills are expected to be favourable for Canada.
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Posted On December 11 2023
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