Despite welcoming a record number of immigrants last year, Canada plans to bring 1.5 million new immigrants in the next three years.
Canada is facing an unprecedented labor shortage, which impacts its economy and labor market. With unemployment rates touching a record low, Canada plans to speed up immigration. Canada ushered 405,000 new immigrants in 2021. It is the highest number of immigrants to come to Canada as permanent residents.
The last month’s immigration level plan projects the following year-wise targets:
- 2023: 465,000 new immigrants
- 2024: 485,000 new immigrants
- 2025: 500,000 new immigrants
The number of new immigrants to come to Canada in the next three years is close to 1.5 million.
Distinct features of Canada’s immigration
The inflow of new immigrants to Canada is far higher than in its neighboring countries. It is four times more than the US and almost eight times more than the UK. The main factors driving Canada’s immigration targets are:
- A higher number of retirees
- Nearly one million vacant job positions
- Dipping unemployment rates
The projected number of retirees in Canada by 2030 is nine million. Besides a low birth rate of 1.4 children per woman, Canada’s aging population is another factor that impacts Canada’s labor shortages.
Immigration – The key to Canada’s labor shortages
Canada focuses on economic immigration, unlike most countries that consider family reunification as the main parameter for immigration. The higher focus on candidates’ job skills helps Canada bring more immigrants to address the labor shortages.
Immigration, Refugees and Citizenship Canada (IRCC) looks after Canada’s immigration programs. IRCC plans to relax qualifying criteria to boost immigration through the Express Entry system, which manages economic immigration programs.
There will be more focus on specific labor market needs while selecting candidates for invitation to apply for permanent residence rather than the traditional CRS scores.
