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The Conference Board of Canada, an independent, non-profit research organization, recently released a paper that analyzes Canada’s population demographics, anticipated growth and the labour shortage the country will face once the baby boomers become set to retire around 2020.
“While other options for growing the Canadian labour force are available and should be pursued, immigration remains one of the most effective means of underpinning Canadian economic growth over the medium term,” said the report.
The recession-caused losses many older Canadians’ retirement savings experienced has caused many to delay retirement, one less-desireable alternative to opening the work force to more immigrants. Even then, this course of action only delays the inevitable.
Groups already existing in Canada that make up smaller portions of the workforce – disabled women and men, aboriginals and women already have larger factions in the workforce. For example, 56 per cent of working-age disabled men are in the work force, compared to 75 per cent of able-bodied men.
Even if the numbers of members of these groups active in the workforce grew substantially, it would not be enough to sustain the needs of the Canadian economy. Immigration both brings down the median age of a population and reduces strains on health care and pension programs, while stimulating the labour supply and contributing to the economy by supplying taxes and creating revenue.
Alberta recently recognized this fact by committing $850,000 to a program to help temporary foreign workers get settled in the province, despite freezing some foreign worker programs just last month.
“One doesn’t need a crystal ball to come to the conclusion that Canada and most western countries will be facing a severe and acute labour shortage in several decades to come,” said Thomas Lukaszuk, the Minister of Employment and Immigration for the province.
Thinking about Immigration to Canada? Contact Niren and Associates immigration law firm today.
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