Plenty of workers required in Canada; immigration can be a source- says Bank of Canada Governor

Posted on March 14, 2018

In a speech at the Queen University in Kingston-Ontario, the Governor of Bank of Canada, Stephen Poloz threw some light on the importance of immigrants for the Canadian economy. “Immigrants have a key role to play in helping grow the Canadian economy and off-setting the country’s growing shortage of skilled labour” said the Governor, emphasizing on the need of more workers in the country through immigration. In his speech he also pointed out the Statistics Canada data which reveals a rise in job vacancies to 470,000 in 2017. “We hear from business leaders that many of these vacancies are going unfilled because they cannot find workers with the right skills,” his statement quoted.

Stephen Poloz believes that immigration is critical to keep inflation low and balance the trend of Canada’s aging workforce. “Immigration can help provide an important off-set,” Poloz said, as can “untapped sources of labour within our existing population.”

The Canada’s economy is hitting its sweet pot of rising demand and companies operating at near capacity. This growth is translating into new jobs and there is an evident escalation in job vacancies, stated Poloz. “None of this highly desirable economic growth can happen unless there are people available to fill the newly created jobs,” he said. “A healthy, well-functioning labour market is critical.”

The Digital Sector is creating most jobs

With the rapid advancements in Canada, especially in the digital technology, the country experiences new demands for workers with right skills.  “New applications are creating jobs that were unimaginable just years ago. Ten years ago, there were no smartphone app developers, or cloud computing engineers or social media managers,” he statemented in this context.

While Canada stands to gain from these innovations, the growing jobs are creating opportunities for the skilled professionals outside Canada. These growing digital jobs are indeed high income-generating source and a boon to both Canada and candidates looking out for a career in Canada.

As quoted by the immigration-encouraging Governor, “These are exciting times. New opportunities, new technologies and new industries are all waiting right around the corner.”

Should you wish to know your chances of working in Canada as an immigrant, connect to our Canadian immigration experts.