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Immigrants contribute to the economy and create jobs for Canadians

Canada

The strength of Canada’s economy is measured in part by the number of people working (known as the labor force) and paying taxes to fund our public services, such as health care. Read more below about immigrants contribute to the economy and create jobs for Canadians.

Thanks to immigration, Canada’s labor force continues to grow by a small amount every year. If it weren’t for immigrants, employers would have trouble finding enough qualified workers to fill available jobs. This is because Canadians are living longer and having fewer children. More people are retiring, and there are fewer students in schools. As a result, the pool of Canadian-born existing and potential workers is limited.

Immigrants contribute to our economy, not only by filling gaps in our labor force and paying taxes but also by spending money on goods, housing, and transportation.

Supporting the aging population

Canada’s worker-to-retiree ratio is 4 to 1. By 2035, when 5 million Canadians are set to retire, the ratio will be down to 2 to 1, meaning there will be only 2 workers for every retiree.

Immigration alone cannot solve this challenge, but it can help as we look to keep our economy growing and maintain our commitments to health care, public pensions, and other social programs. More than 80% of the immigrants we’ve admitted in recent years are under 45 years old, meaning they will have plenty of working years in Canada.

Meeting our labor market needs

Some employers are already having trouble finding Canadian-born workers to fill jobs. More than 6 in 10 immigrants are selected for their positive impact on our economy. The top 5 occupations of people invited to immigrate under our Express Entry program are as follows:

  • software engineers and designers
  • information systems analysts
  • computer programmers
  • financial auditors and accountants
  • advertising, marketing and public relations professionals

Many immigrants have excellent science, technology, engineering, and math (STEM) skills, and they make up about half of all STEM degree holders in Canada. These skills are important in our knowledge economy.

For immigrants to find work here, it’s important to make sure their education, training, and experience meet Canadian job standards. We are working with employers, provinces, and territories to make this happen as quickly as possible.

Immigrants can also fill labor market needs by taking on jobs that Canadians are not interested in doing. Proper knowledge is very necessary for the immigrants about how the immigrants contribute to the economy and create jobs for Canadians

Filling temporary labor needs

Temporary foreign workers are an important part of the Canadian workforce. They help employers meet labor needs when qualified Canadians or permanent residents aren’t available.

Temporary workers support the success and growth of many industries, such as agriculture and agri-food, health care, and technology.

In 2019, about 400,000 people were issued temporary work permitsFootnote1. Workers are thoroughly screened to protect the health, safety, and security of Canadians

Sustaining Canada’s education system through international students

International students contribute more than $21 billion to the economy every year through student spending and tuition. Their spending amounts to more than Canada’s exports of auto parts, lumber, or aircraftFootnote2.

International education is an essential pillar of Canada’s long-term competitiveness. Students from abroad who study in Canada expose Canadians to new cultures and ideas. This stimulates innovation and develops important cross-cultural competencies. If these students choose to immigrate to Canada, they contribute to Canada’s economic successFootnote3. In 2019, 827,586 international students held study permits in CanadaFootnote4, and more than 58,000 former international students immigrated permanently.

International students representFootnote5:

27% of all students enrolled in math, computer, and information sciences programs
19% of all students enrolled in architecture, engineering, and related programs
Many students in science, technology, engineering, and mathematics fields will stay and build their careers in Canada. They will help us build a stronger economy for the future.

Source: canada.ca

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Canadian Economy

Canada

Canadian Economy ranks among the 10 leading manufacturing nations.

Most of Canada’s manufacturing industry is located in the provinces of Ontario and Quebec. Other important manufacturing sectors in Canada include food and beverages, paper and allied products, primary metals, fabricated metals, petrochemicals, and chemicals.

The Atlantic, Prairie, and Pacific regions of Canada have concentrated on establishing their natural resource-based economies such as fishing, forestry, and mining. The Prairie provinces are dependent on agriculture and mineral fuels, while British Columbia’s primary industries are forestry and mining, and tourism.

In recent years, Alberta has played an increasingly important role within the Canadian economy due to its abundant natural resources and strong oil and gas sectors. From oil and gas to precious minerals, lumber, and agriculture, the country is rich in natural resources.

Source: canadavisa

If you have any more queries, you can ask your question in the forum of Canadians Live.

Canada’s economy was slowing even before COVID-19 hit, January GDP numbers show

Canada’s economy expanded by 0.1 per cent in January as manufacturing and the financial sector grew while transportation, mining, oil and gas and the retail sector all shrank.

Statistics Canada reported Monday that Canada’s gross domestic product expanded by 0.1 per cent during the month, slightly less than what economists were expecting. It’s also less than the 0.3 expansion seen in the previous month.

The spectre of COVID-19 was already casting a shadow on the economy in January as reduced trade with China and travel restrictions held back Canada’s economy two months before the full brunt of the outbreak hit North American shores.

Manufacturing grew by 0.8 per cent during the month, while construction activity picked up by 0.2 per cent from December’s level. Wholesale trade grew by 1.2 per cent while the financial sector expanded by 0.9 per cent.

On the downside, the mining and oil and gas sector shrank by 0.6 per cent, while the retail sector was down by 0.4 per cent. The transportation sector shrank most of all, by 1.7 per cent, largely because of winter storms wreaking havoc with travel plans.

Bank of Montreal economist Benjamin Reitzes did note expansion in one sector that he thinks could be poised to continue in the coming months. “One sector that picked up steam with its biggest gain in a year is public administration,” he said. “Expect a lot more of that as the federal and provincial governments step in to support the economy through the COVID-19 shock.”

“January numbers are ancient history now given how the economic landscape has drastically shifted,” he said. “While the year got off to a decent enough start, the near-total halt in activity in the second half of March will have a hugely negative impact.”

sources : CBC