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The chances for immigrants to become financially successful in Canada are on the rise, shows recent data. According to the data released by Statistics Canada, the number of employed immigrants is increasing in Canada. Further, more immigrants are entering Canada job market, fewer immigrants are underemployed and their wages are also increasing, says the data.
Newcomers in Canada job market
Those who have been living in Canada for five years or less are called newcomers. The participation rate of newcomers belonging to the core age group of 25-54 in the Canadian labour market was 78 percent in 2018 compared to 74 percent in 2006. This indicates that the newcomers of today integrate into the Canada job market more quickly than their predecessors. Newcomer employment rate has also increased significantly from 65.2 percent in 2006 to 71.3 percent in 2018.
Further, the unemployment rate among newcomers has declined, which stood at 8.6 percent in 2018. This is significantly low compared to the post-2008 recession period, when the unemployment rate was 14.7 percent. In 2006, the unemployment rate among immigrants was 11.5 percent.
Unemployment rate, wages
In 2018, the unemployment rate among immigrants who had been in Canada between 5 to 10 years came down to 5.3 per cent from 7.3 per cent in 2006. The wages of immigrant workers are also increasing, according to data from Statistics Canada. A 2018 Statistics Canada report says, “Immigrants admitted to Canada in 2015 earned the highest entry wages of any cohort admitted since 1981.” The wages of immigrants with a university degree also saw an increase by 3.5 per cent in 2017, compared to the previous year.
Favorable factors for immigrants
The positive changes for immigrant workers in Canada job market are mainly attributed to the following factors. The first is the increasing demand for workers in Canadian labour market. With more and more baby boomers approaching their retirement age, Canadian employers are increasingly depending on immigrant workers to replace them. According to a study by the Conference Board of Canada, 9.2 million baby boomers will be retiring in the next decade. It means Canadian employers would have to rely on immigrants more.
Second factor is the reforms introduced to Canada’s immigration policy, which include reforms to selection policies and increased support from the part of government for newcomers for settlement and integration.
Another major factor that made a huge impact on the employability of the immigrants is the introduction of Expression of Interest systems. These systems, including Express Entry and Provincial Nominee Programs, are designed to select immigrants on the basis of their ability to settle successfully and integrate well to the Canadian society.
Further, more temporary workers are now becoming permanent residence in Canada. A research by Statistics Canada has found that those immigrants who have previous work or education experience in Canada are likely to earn more compared to those who do not have any previous experience in Canada.
Canada is the right destination for you to immigrate, if you are looking for a bright career and a quality life for you and your family. Take the first step to make your Canadian dream true by filling our free eligibility assessment form. Contact us for more details.
