Report - Immigrants Plays A Vital Role In Canadian Labour Market Growth

07 May 2019

Economic future of Canada can only be maintained with the support of immigrants to attend labor market requirements, a new report has announced.

Even if all 11.8 million individuals assumed to leave the schools in Canada between now and 2040 determine to live in Canada, the number assumed to retire is still prominently higher, at an expected 13.4 million, as per the  report of Conference Board of Canada.

Immigration is established to produce all of Canadian net labor force growth across the upcoming 20 years, required to get in 3.7 million workers, considering for a third of the growth rate of the economy, the Conference Board states.

The report sees that underrepresented groups along with women, Native people and those with disabilities would attach 2.2 million workers to the labor force by the year 2040, and higher than $100 billion to the Canadian economy. But it closes that Canada yet have a labor deficit and immigration is the greatest way to fill the gap.

Growth of Labour Force in Canada

With the excellent combination, Canada could improve the size of the labor force by approximately 6 million workers by the year 2040, the report states, with yearly labor force increase of 1.1%. This continues down on the 1.3% labor force growth observed within 2000 and 2017.

This scenario is critical not only in terms of helping the economy of Canada, but also it would strongly encourage comprehensive economic growth, lighten poverty, and increase social cohesion and inclusion, the report concludes.

Immigration will be the most developmental policy proposals to grow the labor force and the economy of Canada.

If Canada regularly raises its rate of immigration to 1% of its population by the year 2030 – up from around 0.8% today – immigrants would add around 5.3 million workers to the Canadian labor force and 1/3rd of the growth rate of the economy within 2018 and 2040.

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