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Future of Work

A curated resource of recent research on trends shaping Canada's labor market.

How lowering the number of non-permanent residents will impact Canada’s economy
April, 2024 | BY Janzen, N.
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Key Takeaway
Slower population growth could reduce price pressures in Canadian markets, especially in housing, but may heighten challenges related to the aging population.

 

This RBC economics report explores the potential impacts of reducing the number of non-permanent residents in Canada.

The federal government has announced plans to decrease the number of non-permanent residents. Annual targets have yet to be determined, but preliminary information implies that the starting goal will be to decrease their count by 20% over three years, equivalent to about 500,000 people.

Slowing the wave of non-permanent residents may give sectors time to respond to infrastructure demands (e.g., housing), but it could heighten the impact of baby boomers’ retirements. Reducing the number of non-permanent residents is projected to increase the average age of Canada’s population, which may further lower labour force participation, compounding the loss of baby boomers from the available labour force.

Currently, non-permanent residents have a higher labour market participation rate. They are an important part of the Canadian workforce, and the labour market will see ripple effects when their numbers decrease.

Tags:
Demographics
Immigration
Labour Market Impact
Canadian Study

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Embracing Immigrant Talent: Perspectives and Practices of Toronto Region Employers
May, 2024 | Toronto Region Immigrant Employment Council (TRIEC) and Léger
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Creating and Optimizing Employment Opportunities for Women in the Clean Energy Sector in Canada
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Active presence of immigrants in Canada: Recent trends in tax filing and employment incidence
May, 2024 | Hou, F.
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Survival and growth of women-owned and immigrant-owned businesses during the COVID-19 pandemic
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Trends in education–occupation mismatch among recent immigrants with a bachelor’s degree or higher, 2001 to 2021
May, 2024 | Schimmele, C., & Hou, F.
Key Takeaway: Aligning immigration policies with evolving workforce demands and trends in education-occupation mismatch will optimize economic outcomes for newcomers.
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