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Canadian Immigration Boosts for Economic Growth

June 2016, 22
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Canadian-Immigration-Boosts-for-Economic-Growth
Canada's economy relies upon immigrants completely for its labor growth, according to statistic reports. The number of employed immigrants in Canada increased by 261,200 (6.6%) from May 2015 to May 2016 according to Statistics Canada's report. Jobs held by Canadian natives went down by 93,300 in the same period of time.

The decrease in prices of commodities is shifting economic activity from areas like Alberta with lesser number of immigrants to urban areas which are popular for international workers to settle in like Toronto and Vancouver. In Toronto, foreign workers have more than a 50 percent share in the labor market over the last 8 months.

Canada's native workforce is retiring, even in the developed cities. Canada's younger demographic is at its tipping point and is being compensated by young foreigners.

Given the dependence on foreign-born employees, Canada acts a model for immigration for other developed countries to learn from, according to OECD. 

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