CANADAS IMMIGRATION MINISTER LAUDS THE ROLE PLAYED BY IMMIGRANTS IN ECONOMIC GROWTH
Canada Immigrants In Economic Growth
In a world where most countries are blaming immigrants for most of the troubles ranging from rising housing costs to unemployment to social dissolution, it is heartening to see, one country not only keep its borders open for deserving immigrants and help them integrate into to the local community but also to acknowledge their contribution to the countrys economy.
Canadas Economic Growth Fueled By Immigrants
In a speech given by Ahmed Hussen at the Canada Immigration Summit for 2018, the minister for Canada immigration opined that immigration has long since justified itself and instead of asking why we should support immigration to Canada, the government should concentrate on how much immigration would be optimal. He firmly stated his views that Canada would not have enjoyed its current levels of economic growth without the contributions of meritorious and skilled immigrants.
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He drew from the reports framed by the Conference Board of Canada in making this statement. According to the report, an aging population in Canada has created a labor gap, which can be offset by an increase in Immigration to Canada by the rate of one percent of the countrys existing population each year.
These new immigrants are expected to contribute as much as 66 percent of the average annual GDP growth that some experts estimate to be at 1.9 percent by the year 2030. Definitely not a meager amount considering that Canadas GDP is at Multi-trillion Canadian Dollars.
Canada Immigration Alleviates Labor Woes For Canadas Economy
Minister Hussen informed his audience about the widening labor gap in the Canadian economy. Compared to the year 1971, where each retired person had six Canadians in the employable age, the situation in 2012 saw the number drop to four employable persons for each retiree, and 2030s would see the number drop even further to 2 employable people to each retiree.
This would create a situation where the economy would not be able to operate at its optimal level without the contribution of immigrant workers. The stimulus brought in by immigration would not only help economic growth but would also help to sustain social service programs such as pensions for senior citizens and public health care.
According to the Minister, the immigration authoritys multi-year plans for increasing Canada Immigration Levels have been set in place to mitigate this labor gap and are expected to increase immigration to Canada at a rate of nearly one percent of the Canadian population by the year 2020.
Canadas Minister Hails The Impact Of Express Entry program
The minister also hailed the positive impact that the Express Entry program had on the immigration system in Canada and the associated economic entry programs. These programs ensured that meritorious applicants were able to speed up their immigration process and contribute faster to the Canadian economy.
The IRCC has stated that the changes have greatly improved the odds in favor of applicants who have higher scores in the human capital segment or those who are more skilled when compared to other applicants in the Express Entry Program.
Immigrants in Canada are a significant portion of the highly skilled employees in Canada and are filling up nearly half of all the STEM work positions in Canada, not just that, immigrants also are increasingly turning entrepreneurs and are helping to create new jobs which provide further stimulus to the economy.
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All this just goes to show, that Canada has learned its lesson well and reaping the rewards of its generous immigration program It is clear that Canada is throwing its gates wide open to certain immigrants, do you make the cut? Why not talk to one of our expert Canada Immigration Consultants at Global Tree to find out?