Canada will target about 1.45 million new immigrants in a phased manner over the next three years ending in 2025. Out of it, nearly 800,000 new permanent residents are expected to come from economic-class immigration programs like Express Entry, Provincial Nominee Programs, or the Quebec program. Another major proportion of the target will be met using family reunification programs.
Successive Canada immigration plan over the years facilitated a direct Permanent Residency pathway, ambitious intake targets, and embraced multiculturalism. As a result, immigration popularity surveys have ranked Canada as No.1 among the top immigration destinations ahead of Australia at No 4 and the US at No. 6.
The latest Canada immigration plan would see Canada welcome about eight times the number of permanent residents each year – per population – than the UK, and four times more than its southern neighbor, the United States.
As the current immigration plan will welcome 465,000 new permanent residents in 2023, now is the right time to analyze your prospects of Canadian immigration against the current trends in the economy.
Can Canada Meet its Targets?
Exceeding the Canada immigration plan of 431,645 intakes in 2022, the government granted over 437,000 foreigners permanent residency as it prioritized economic-class immigration along with family reunification programs.
This year Canada is expecting to welcome 465,000 new immigrants and it is augmented with favorable employment trends across Canada.
December 2022: Employment Across Canada Rises By Over 100,000
Statistics Canada in its December 2022 Labour Force Survey recorded encouraging trends that could facilitate more opportunities for skilled immigration to Canada.
- Growth in the average hourly wages of employees – which has remained above 5% for seven consecutive months and is up 5.1% year-over-year (YOY).
- Canada’s employment boom of over 100,000 vacant positions is led by private-sector employment in Construction, Transportation, Warehousing, Professional, Scientific, and Technical Services,
- Employment increased across six different provinces: Ontario, Alberta, British Columbia, Manitoba, Newfoundland, and Labrador, and Saskatchewan
Check it out >> Top In-Demand Jobs in Canada for Immigration in 2023.
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Why is Canada Targeting More Foreign-Skilled Immigrants?
Three main factors contributing to rising of foreign immigration in Canada include the labor skill gap, aging demography, and low birth rate.
Canada’s labor force growth is almost 100% dependent on the skilled immigration of foreigners. Canada has currently posted nearly one million job vacancies and a shortage of skilled labor across economic sectors.
Additionally, nine million Canadians are expected to reach the retirement age of 65 by 2030, shifting the worker-to-retiree ratio from 7:1 (50 years ago) to 2:1 by 2035.
Further, Canada is experiencing one of the lowest global birth rates at 1.4 children per woman and is looking to boost its population through the settlement of foreign skilled workers who can contribute positively to the economy and society.
Therefore, Canada is heavily investing in increasing the population by incentivizing the settlement of foreign skilled workers permanently across Canada. In fact, the 2021 Census on immigration confirmed 23% of Canada’s population is, or has been, a landed immigrant or permanent resident of the country and it is projected to reach 34% by 2041.
Plan your Immigration with CanApprove
If you’re planning to immigrate to Canada, book a free appointment with our immigration consultants to discuss the best chances based on your academic and work experience.
CanApprove is a certified consultant by the College of Immigration, and Citizenship Canada (CICC). We have impacted the lives of thousands of immigrants now settled abroad in our illustrious journey of 25+ years and still counting.