4 Reasons Why Skilled Immigration Is Crucial for Canada's Economic and Social Prosperity

The demand for qualified The epidemic and the accompanying lockdowns resulted in a massive loss of jobs worldwide. During the epidemic, Canada was also heavily struck, with the unemployment rate rising to over 10%. Even if it has dropped to 7.8% according to the most recent figures, it is still a significant figure.

Is Canada going to change its immigration-friendly rules, which are a significant concern for talented workers and entrepreneurs looking to work and live in Canada? 

Will Canada just cease allowing an enormous number of foreign skilled professionals to enter the country? Will it adopt a Canada-first policy in the same way that its neighbor, the USA, did?

Let’s discover the topic below:

A Strategic Link Between Canada and Skilled Immigration

To become affluent and prosperous, any country needs a healthy ratio of working-age people to retirees. Canada is already a developed country, and it will continue to be such as long as there are more working-age young employees than older residents.

Unfortunately, due to Canada's low birth rate and population replacement rate, retired people are growing far faster than the number of young people. What is the solution? Of course, there's immigration.

India and China, for example, are grappling with an issue of too many young people and insufficient resources—precisely the reverse of Canada.

Skilled Immigration in Canada: A Social Necessity

Every government owes it to its population to establish social programs that provide affordable education, healthcare, utility services, and other necessities. To pay these social services for Canada's less privileged residents, the country's tax base must continue to increase.

And, more specifically, how will the tax base expand? By bringing in more highly skilled people who will pay both direct and indirect income taxes and recruiting entrepreneurs who would start enterprises that will bring in revenue and create employment in the country.

Matching Skills with Labor Trends in Canada and Skilled Immigration

Technology has transformed the world into a single global market in which geographical distances are no longer significant. Canadian businesses must be dynamic and continually improving to stay ahead of the competition in today's fast-changing world.

This will only be achievable if Canadian employees have the requisite skills and training to keep up with the constantly changing labor market trends. Skilled immigration is the most straightforward and efficient approach for Canadian firms to recruit people with the most appropriate skills.

Continuous training and reskilling programs may help Canadian businesses keep their competitive edge, eliminating Canada’s need to reduce skilled immigration or discourage foreign experts from staying in the country.

Canada must take strict measures to combat unemployment, but it is unlikely to consider restricting skilled immigration into the country. 

Canada and Skilled Immigration: An Economic Growth Boost

In the next three years, no other industrialized country has officially established a target of more than 1.2 million immigrants. According to statistical calculations, increased immigration might boost Canada's GDP by over $70 billion per year by 2040.

In developed countries like Canada, population growth and GDP growth are intimately connected. The government will not halt immigration since this would jeopardize its GDP growth prospects. So, instead of stressing, attempt to make your Canadian ambitions a reality.