the CanadaVisa Team - 22 July, 2015
A recent Statistics Canada report focuses on the changing Canadian workforce, highlighting the dwindling ratio of replacement workers to retirees. Given Canada’s demographic makeup and its declining fertility rates, regional labour shortages will likely become more severe and spread. In 2006, there were 1.9 Canadians aged 20-34 entering the workforce for each person aged 55-64 leaving it.
This is down from five years ago when there were 2.7 replacement workers for every retiree and 25 years ago when there were 3.7. Lack of workers combined with strong annual employment growth means that there is anabundance of available job opportunities in Canada . Between 2001 and 2006, Canada’s overall employment growth was the strongest of G7 nations, fuelled by a strong economy.
Canadian Finance Minister Jim Flaherty has recognized that Canada’s labour shortages are one of the “most daunting economic challenges” the country will face in coming years. To avert negative impacts on the Canadian economy, he has been encouraging the government to implement new programs to hold onto its Canadian workers and draw skilled immigrants to the country.
