The article explores the ideal immigration levels for Canada, with a focus on how it impacts the labour market. The author emphasizes that immigration plays a crucial role in Canada’s long-term economic prosperity while acknowledging the short-term challenges it can create, particularly in the labour market.

The article points out that the current rate of immigration seems to align with the needs of the labour market, as evident from factors like job vacancies and unemployment rates, which have a significant influence on immigration policies. The analysis also delves into the effects of an aging population on the labour force and how immigration helps mitigate the growing old-age dependency ratio (OADR).

The author explains that higher levels of immigration have a positive impact on GDP growth and GDP per capita through the productivity of economic immigrants. However, the article posits that the rapid pace of immigration has created challenges in the housing market, leading to decreased affordability. It calls upon the federal government to address this issue by increasing housing supply to accommodate the growing population. Finding the right balance between immigration policies and housing affordability is viewed as a complex challenge for policymakers.

Determining the optimal immigration level for Canada is a multifaceted task that depends on various policy objectives. The article underscores the importance of considering labour market trends, including job vacancies and unemployment rates, when making decisions about immigration levels.