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Canada needs to increase immigration, says economist

Canada must increase immigration and improve the accreditation process for foreign nationals to immigrate to the country, said economist Tu Nguyen, a high-level official with RSM Canada, a leading tax, auditing and consulting services firm. “But government, industry associations and organizations will actually need to go further and streamline the accreditation process so that workers educated abroad can fill much-needed roles in Canada. Only then can Canada hope to have more meaningful growth in labour supply and productivity,” said the expert.
pnp-finderCanada is facing a severe labour shortage crisis in the post-pandemic period. As in June 2022, there had been an increase of 70 per cent in the number of new jobs. More than half of the Canadian businesses believe that labour shortages are limiting their ability to increase production. Nguyen said that, despite a robust recovery from the impact of the pandemic, Canadian economic growth will continue to slow down due to persistent inflation and a tight labour market. Declining worker participation affecting the healthcare, hospitality and food services industries will be the real long-term challenge, the expert added.

Close to one million jobs are lying vacant in Canada, in the second quarter of 2022. This is the highest number of job vacancies reported in any quarter of any year in Canada. The job vacancy rate was 5.7 percent, which is an all-time high.

Major pathways for migrating to Canada

There are two major pathways for migrating to Canada, one is Canada Express Entry and the other is Provincial Nominee Program. The Express Entry system is an online system for managing applications under the three federal economic immigration programs, which are the Federal Skilled Worker Program (FSWP), Federal Skilled Trades Program (FSTP), and Canada Experience Class Program (CEC). Candidates applying under the Express Entry are assessed on the basis of Comprehensive Ranking System or CRS score.
Those with the highest scores are invited to apply for permanent residence in the periodic Express Entry draws. The Provincial Nominee Programs allow provinces and territories in Canada to nominate eligible candidates for permanent residence in Canada. Those who receive provincial nomination can then apply for permanent residence in Canada.

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