More foreign workers are needed to fill Canada's labour market
According to the latest Statistics Canada report, sustainable immigration flows are critical to meet the need for both high- and low-skilled employees in many sectors as businesses recover from the COVID-19 epidemic.
In the long run, larger immigration volumes will be required to a certain extent to mitigate the consequences of Canada's aging population on the job market. In the years preceding the pandemic, immigrants' employment prospects significantly improved.
Temporary foreign workers and international students, both of whom are increasingly transitioning to permanent residency, have become a more important source of labour supply. Although economic success among recent immigrants has increased, significant issues remain with regard to their skill use.
In Canada, the population between the ages of 15 and 64 has never been older. The majority of workers are approaching retirement age. In Canada, 64.8% of the population is working age. The figure could fall to 60.0% in three decades.
Thousands of immigrants have contributed to Canada's labour supply over the years. In the 2010s, immigration accounted for over half of Canada's labor force growth.