The pandemic and resulting lock downs led to a very sharp surge in job losses across the world. Canada too was hit hard with the unemployment rate surging to beyond ten percent during the pandemic. While it has come down to 7.8 percent as per the latest data, that’s still a big number.
The biggest worry that skilled workers and entrepreneurs seeking to work in Canada and settle in Canada is—Is Canada likely to reverse its immigration-friendly policies. Will Canada just stop accepting large number of foreign skilled workers? Will it shift to a Canada-first strategy just its neighbor shifted to America-First?
Canada and Skilled Immigration—a Strategic Connect
Every country needs a healthy ratio of working-age people to retirement-age people to become a wealthy and prosperous nation. Canada is already a developed country and will remain so only if it has more working-age young workers as compared to senior citizens.
Unfortunately, Canada’s unfavorable fertility rate and population replacement rate mean its population of retired individuals is rising much faster than its youth population. The solution? Immigration, of course.
Countries like India and China are struggling with the problem of too many young people and too little resources—exactly the opposite of Canada. That’s probably why Canada has been so aggressive on immigration, especially skilled immigration, for more than a decade now.
Canada and Skilled Immigration—Boost to GDP Growth
No other developed country in the world has publicly set a target of more than 1.2 million immigrants in the next three years. Statistical models indicate that more immigration can add close to $70 billion per year to Canada’s GDP through 2040.
There is a direct correlation between population and GDP growth in developed countries like Canada. Obviously, the country won’t shut down immigration and damage its GDP growth prospects.
Canada and Skilled Immigration—a Social Necessity
Every country owes it to its citizens to setup social programs for affordable education, healthcare, utility services, and other essential needs. Canada needs steady growth in its tax base to fund these social programs aimed at its less-privileged citizens.
And how exactly will the tax base grow? By bringing in more skilled workers who will pay direct and indirect taxes on their incomes. By attracting entrepreneurs who will setup businesses that will generate profits and jobs in the country.
As you can see, Canada needs skilled workers like you to ensure its social programs are well-funded and every Canadian is provided with all basic needs and rights.
Canada and Skilled Immigration—Matching Skills with Labor Trends
Technology has converted the world into one big unified market where geographical distances have become irrelevant. This fast-changing world requires Canadian businesses to be dynamic and constantly evolving to remain a step ahead of the competition.
Obviously, this will be possible only if Canadian workers have the necessary skills and training to adapt to the ever-changing labor market trends. The simplest and easiest way for Canadian businesses to find workers with the most relevant skills is through skilled immigration.
The conventional option of overhauling the education system just won’t work. Looking beyond the worker’s nationality and focusing on whether he/she has the necessary skills to contribute to the business growth is a much smarter solution.
Using ongoing training and reskilling programs can help Canadian business maintain their competitive edge, which means the question of Canada reducing skilled immigration or discouraging foreign professionals from settling in the country just doesn’t arise.
Canada needs to aggressively tackle unemployment but it’s unlikely to be even consider the idea of restricting skilled immigration into the country. Canada’s need for skilled workers goes beyond short-term economic data. So, stop worrying and focus on trying make your Canadian dreams come true.
Your Canada Immigration Options
Problem of plenty—that’s the problem skilled workers are likely to face when exploring Canada immigration options. In Express Entry, is it better to choose CEC over FSWP or the other way round? Or are PNP streams for skilled workers a smarter choice than Express Entry?
Or is it possible to be in the EE pool even as you explore PNP options? And then there are work permits. You have multiple options here too. The LMIA-required TFWP program, LMIA-exempt IMP work permits, and then the Global Talent Stream that offers a work permit within just two weeks.
With so many options and choices, give yourself the advantage of professional assistance and work with an immigration consultant to find the simplest, easiest, and fastest route to Canada.