Canada’s Labor Market Needs Immigration To Help With High Job Vacancy Rate

At present, the unemployment rate in Canada is at 5.1%. This is a record low and it has resulted in a significant amount of shortages in workers. The job vacancies in Canada currently are over 80% higher as compared to the vacancies that the country had before the pandemic happened. This is an alarming situation and something that the government is focusing on right now. Immigration is one of the key solutions that the government is seeing as a good way to start fixing this issue.

 

Many of the vacancies in Canada are attributed to the country’s aging population. For every five people who are of working age, more than one of them are already nearing their retirement. But this is just one of the reasons. Another big factor that has affected the current situation in the labor market in the country is the low birth rate. The average is 1.4 children for each woman. This rate is not good enough to be able to replace all of the individuals who are already retiring.

 

The plan to increase immigration rates

 

Statistics Canada created a study just recently and the results showed that in 2021, 8% of the labor market that was employed were new immigrants. These are individuals who have moved to Canada and have been living there for a maximum of 10 years. In the food services industry and the hospitality industry at that time, 13% of them are new immigrants. They also made up 11% of those employed in the professional services industry, and 10% of the manufacturing industry and the transportation industry.

 

The study was also able to show that the vacancies in Canada have been going up, especially in the retail trade industry and the manufacturing industry. In the last quarter of 2021, the highest number of vacancies in the manufacturing industry was at around 87,400. In the retail trade industry, the highest number of vacancies was at around 114,600.

 

The situation for immigrant workers

 

For a number of years before the pandemic came about, immigrant workers in Canada were able to experience an increase in the employment rate. Even during this pandemic in 2021, 77% of new immigrants have been employed. On the other hand, long-term immigrants experienced an employment rate that was at 84%. Long-term immigrants are those individuals that have been living in Canada for over 10 years already.

 

Aside from these, from 2010 to 2018, new immigrants in Canada were also able to experience an increase in terms of their initial earnings. The earnings of the new immigrants under the economic working their first year went up by 39%. Those under the family class had a 27% while refugees got 9%. The average for all new immigrants was at 35%.

 

 

 

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