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Hershey Rosen Immigrants
By HERSHEY ROSEN 1,839 views
FINANCE

Why Immigrant are Needed in Canada

Places like the little Canadian parish of Herouxville released a behavior code for potential immigrants fifteen years ago, advising them not to crush or incinerate women to death and to simply cover their faces on Halloween. It is contemplating initiatives like low-income housing to draw in more immigrants. Today, Herouxville wants to be known for its variety, meaning they need more immigrants to come in. Hershey Rosen says Canada has the worst labor shortages among Western countries, as determined by the most recent Organization for Economic Co-operation and Development (OECD) statistics dated back to late 2021.

This year, an extraordinary wave of retirements has worsened the situation. The problem is particularly serious in provincial Quebec, which is typically ignored by the few immigrants who decide to stay in Montreal.

The labor shortage is a result of aging populations, an increase in retirements, COVID travel, and commercial turbulence and affects both professional and lesser-paid occupations, including those in manufacturing, transportation, and farming.

Canada’s Reasons for Needing more Immigrant

Low-paid and skilled industries are also affected by the staffing shortage. Canada encourages substantial immigration to maintain a robust economy. Both the population age and the birth rate are among the lowest in the world in Canada. Financial and economic pressures result from this. The natural population growth rate of Canada is low, which hurts both the expansion of the labor force and the economy.

 It is challenging for Canada to raise the taxes necessary to fund social expenditure on services like education, health care, and other crucial areas that ensure the country’s high living standards. Low economic growth makes this difficult.

To boost its population growth rate, labor force size, and rate of economic expansion, Canada has been expanding its immigration numbers since the late 1980s. By the year 2030, 9 million baby boomers in Canada will be eligible for retirement at the age of 65. As a result, Canada will experience a decline in employment at a time when its public expenditures on health care will increase. Canada has taken the initiative to address this issue by steadily increasing its immigration goals for more than 30 years.

1988, Canada has consistently accepted more than 200,000 immigrants annually, says Hershey Rosen It has decided in recent years to raise its levels to more than 400,000 annually. The current immigration rate in Canada is roughly 1.1%. In other words, on a per-capita basis, Canada accepts three times more immigrants than the United States of America.

Canada will likely continue to progressively boost its immigration numbers over the next few years based on its socioeconomic realities and immigration trends. Immigration will continue to be essential to the nation’s economic and financial stability.

Furthermore, there is a compelling case to be made that the coronavirus pandemic has increased the relevance of immigration. In the short term, COVID-19 has hurt Canada’s economy and raised government spending on social services. Additionally, in 2019 Canada’s birth rate was 1.47 children per woman, a record low.

Rosen gave the low birth rate in Canada before the pandemic and the possibility that the epidemic may further lower the birth rate due to economic uncertainty, the country will rely even more on immigration in the years to come to support population growth. If Canada’s birth rate stays low, immigration will account for an even greater portion of future labor force growth. Last but not least, Canada needs to expand its tax base.

Other reasons are;

meeting the needs of our job market

Some firms are already having difficulty filling positions with people who were born in Canada. More than six out of ten immigrants are chosen for their benefit to our economy.

Following are the top 5 vocations of those invited to immigrate under our Express Entry program:

Designers and software developers

Analyzers for information systems

Programmer of computers

Accountants and auditors of finances

Public relations, marketing, and advertising experts

Immigrant business owners boost the economy by;

Generating work, luring foreign investment to Canada, and driving inventiveness. About half of all Canadians with STEM degrees are immigrants who have strong backgrounds in science, technology, engineering, and math. These competencies are crucial in our knowledge-based economy says, Hershey Rosen

Increasing Trade

Many immigrants are business owners. Immigrant-owned firms strengthen trade relations with Canada in addition to generating jobs for Canadians. As a result of immigrants’ frequent desire for products from their native country, all Canadian customers have access to a wider range of imports. Because of their connections back home, immigrants are also more able to export.

Maintaining Canada’s Academic System with the Help of Foreign Students

Each year, the economy receives more than $21 billion from international students in the form of tuition and student expenditure. Their expenditure exceeds Canada’s shipments of lumber, airplanes, and car parts combined.

Hershey Rosen says Canada’s long-term competitiveness is built on a key pillar: international education. International students who study in Canada expose locals to various cultures and viewpoints. As a result, innovation is encouraged and crucial cross-cultural skills are developed.

 These pupils will boost Canada’s economy if they decide to immigrate there. More than 58,000 former international students immigrated permanently in 2019, while 827,586 foreign students had study permits in Canada.27% of all students are enrolled in studies in mathematics, computing, and information sciences.

Lastly

 Hershey Rosen concluded that the labor force in Canada is still expanding a little each year. Without immigrants, firms would struggle to fill open positions with suitable candidates. This is a result of Canadians living longer lives and having fewer kids. Fewer people are enrolling in schools, and more individuals are retiring. As a result, there aren’t many current and future workers who were born in Canada.

Hershey Rosen
Author
HERSHEY ROSEN

Hershey Rosen has over 18 years of experience in the field of technology entrepreneurship. He is From Montreal, Quebec. He has founded successful startups and helped many companies onboard clients quickly and profitably.