There are almost a million job vacancies in Canada at the end of 2022, and they are inviting around 1.45 million new immigrants in the next three years to bolster the country’s economy.
In 2022, Immigration, Refugees and Citizenship Canada (IRCC) welcomed 437,000 immigrants to Canada, and in the same year, they reached their target of 431,645 new permanent residents. Additionally, they are planning to surpass the previous year’s record of new permanent residents, and they aim to increase their target in the next three years.
For instance, this year, their target is to welcome 465,000 new permanent residents (PRs), and in the following year, they aim to reach 485,000 new immigrants. By 2025, their goal is to get 500,000 new permanent residents – Accumulating a target of 1.45 million immigrants by the end of 2025 across all types of immigration classes.
Why does Canada need more immigrants?
Canada is currently facing an unprecedented number of job vacancies, and the numbers have had their highest record of 1 million job vacancies in the second quarter of 2022. The country also faced a historically low unemployment rate of 4.9% in the same year, with the total number of unemployed people at approximately 1 million.
Labor shortage due to an aging population and low fertility rate
The reason for Canada’s high demand in the labor force is Canada’s aging population and declining fertility rate. Those that belong to the 50 to 70 age bracket are noted as Canada’s second largest age group by size, and the said demographic is retiring en masse – further increasing the number of unemployed people across the country.
Moreover, as a result of the declining fertility rate, fewer Canada-born professionals are entering the workforce as compared to other demographics. These two reasons led to the shortage in the labor force.
Employability of Immigrants
On the other hand, there’s a steady increase in the employment rate of new immigrants that began in 2016. This is because immigrants are mostly of the age bracket of 20 to 50, which is the prime working age. At present, many of the immigrants are already working and are successful across industries in Canada.
Immigration plays a huge role in Canada’s workforce and the country will rely primarily on it. It is also expected that immigration will potentially raise Canada’s Gross Domestic Product (GDP), which is tied to the output generated within the borders of a country.
In addition, the ingress of new immigrants will also alleviate Canada’s demographic crisis. This is because the younger population in Canada will rise as new immigrants enter the country. There will be more professionals of the core-working age and more benefits to Canada’s society.
In a nutshell, immigration is a necessary factor in strengthening Canada’s economy.
What advantages will new immigrants gain from this?
The labor shortage creates positive impacts on both Canada and immigrants. As Canada invites more immigrants to the country, they have allowed their thousands of vacant job positions to be filled with highly capable immigrant professionals.
Canada’s economy, industries, and demographics will, in turn, be revitalized, and the country’s economy and workforce will be able to sustain itself and there will be increases in wage and job opportunities.
Canadian employers are looking to fill more than 900,000 job vacancies by 2022. This means the chance that immigrants will be hired by a company is relatively high.
Not only will there be a higher chance of getting employed, but they will also experience an increase in wages across occupations in the country. It’s certainly advantageous for immigrants if they decide to immigrate to Canada. Especially immigrants in the sector that have a high demand for professionals.
Additionally, according to the statistics released by IRCC, the sectors that have a significant number of job vacancies during the second to the last quarter of 2022 are as follows:
More than 150,000 positions were unfilled in the Healthcare and Social Assistance sector;
Hospitality and food services have more than 140,000 job vacancies;
The construction industry also had a record high of around 80,000 vacant positions; and
There are approximately 63,000 job vacancies in the Professional scientific and technical services sector.
Immigrants that belong to these industries will have a heightened chance of getting employed in a reputable company in Canada.
Being on par with other professionals in Canada’s workforce
Up to today, Canada still prioritizes addressing their labor shortages, thus their expectation of the arrival of 1.45 million immigrants by 2025. Professionals from all over the globe will remain in high demand and 2023 is the perfect time to consider moving to Canada.
However, the demand for immigrants may be high in the country, and having yourself employed in a good position in a well-established company may require you to have an educational background that aligns with Canada’s standards.
For you to be eyed by companies as a highly-skilled professional, you must receive the same educational level as most Canadians have. Advancing your career through further studies will undoubtedly allow you to be on par with other competent professionals in the country.
Moreover, Canada is already optimizing their programs for the benefit of all immigrants, such as granting Open Work Permits (OPWs) to families, increasing the number of hours that international students can work in 2023, and many others.
If you want to know more about how to successfully move to Canada as a professional, you can always schedule an online appointment with us. Fill out our easy online application form or contact us at +63 917 555 9027.
