The novel corona virus has brought lives to a still stand with the pandemic stalling economies around the world. Coming a long way since the great depression, the current drop of about 35 in the global economy has been termed as, one of the worst economic downfalls by the international monetary fund.
With the latest update from the immigration authorities of Canada, it has been reported that, the country is all set to welcome over 1 million immigrants, between the time periods, 2020-2022. This comes close to the travel restrictions which have been imposed in the country to aid in controlling the grip of the deadly virus. This measure has been taken to help Canada cover and grow its economy, which too has seen a slight setback owing to covid-19.
Should Canada open its gates for immigrants?
Covid-19 has forced many countries to step back and reconsider their plans, especially when it comes to immigration. The current global state has pushed people to question whether Canada should proceed with its immigration policy, or tone it down with respect to the pandemic.
However, it must be remembered that scaling down the immigration level beyond the current state of the virus, will not be considered an efficient economic policy. This could also be traced back to the fact that Canada has always relied on its immigrants to promote economic growth, ever since modern history came to be recorded.
Why are immigrants important for Canada?
Canada has always welcomed over 300,000 immigrants every year to aid in fighting its demographic challenges. Being positioned quite low on the birth rate chart, along with some of the world’s oldest population, the retiring Canadians are not replaced efficiently by the younger generation in the labour market, owing to the country’s poor birth rate. Immigration and immigrants play an important role in helping the country combat this unique problem.
Ever since the 1990s, immigration has always been considered the game-changer for the country’s growth problem and is also touted to be the only factor to help the country function progressively in the 2030s.
Population growth is an extremely important foundation for it helps in increasing the labour force growth. The two ways of helping in the growth of an economy are by adding more workers to the existing force and by making smart use of the existing workforce to the fullest of their potential. Immigration has always been one of the prominent factors in the labour force growth, for it provides the majority of numbers. Constraining the numbers of immigrants would lead to the country prohibiting its economical success.
How will immigration help Canada?
The economists of the country firmly believe that, the ease of the social distancing norms imposed in the country would help the Canadian and global economy to bounce back to its original state and grow rapidly. As more and more Canadians get back to the working arena, immigrants will witness a rise in the job opportunities opening up for them. The scenario of the economy before the attack of the virus seemed to be promising enough, and the post corona economy will prove to be a better period for the rise.
The rate of unemployment in the country had always been low, and Canada has always been fortunate enough to enjoy a rather prosperous rate of growth post the 2008 global financial crisis. The decision to maintain the high inflow of immigration even during the 20078 global crisis proved to be a rather wise decision, for Canada witnessed a fruitful decade.
The low rate of unemployment in the country could be attributed to the 9 million population which retired were replaced efficiently by Canadian born workers and immigrants at an equal place. These two sets of people are all set to enjoy the post-corona economic rebound too. As more and more people retire post the covid-19 phase, it is only natural for the country to expect its immigrants fulfil the labour demands.
The immigration policy has always maintained its long term implications and should be moulded well in the light of the corona.
How will immigrants aid in creating more jobs?
While the global economy is seeing hard times, Canadian economy is all set to boom and rise with the rise of immigration steering it towards growth. The economic recovery will be facilitated efficiently by the immigrants who will fill newly created positions, whilst supporting the existing positions in myriad ones. It has been duly proved by numbers that immigrants have a high propensity to kick-start businesses in Canada. It has been found that the immigrant entrepreneurs have successfully given rise to about 25% novel jobs in the private sector, between 2003 and 2013, even though this data was established by studying just 17% of the companies in the country. This is one of the most prominent manners in which immigrant entrepreneurs gave maintained their status and important in the country by creating a myriad positions in the working sector.
Immigrants are also equipped with major savings to help them push the economy of the country. The wide ranges of international students are also crucial to the economic activity every year. According to the federal government, 600,000 international students contribute about 22 million. Over 8 million immigrants in the country are even ahead of the international students in, making larger contributions to the progress of the nations.
The British Columbia has made a call to over 133 immigrants to apply for a provincial nomination for PR through its Tech Pilot draw on May 26. This draw witnessed a minimum score, which was similar to the May 12 Tech Pilot draw. Under this Tech Pilot draw, the British Columbia has invited all its tech workers with a valid job offer in one of the 29 most-sought after technology occupations to apply for permanent residence.
The Express entry candidates have received an additional 600 points along with their provincial nomination in the Comprehensive Ranking System. The main aim of the Tech Pilot is to help the labour market satisfy its labour needs in the B.Tech sector. The candidates under Tech Pilot need to get hold of a job offer that is at least one year in duration, along with at least 120 remaining calendar days remaining in the candidate’s job tenure at the time of profile submission to the British Columbia.