Canada’s economy could start to falter in the coming years if more professional and skilled immigrants are not allowed into the country. Due to baby boomers retiring and low birth rates, many Canadian businesses will face an acute labour shortage. Furthermore, living standard from health care to other infrastructure could also suffer in the coming years.
Many scholars have argued that Canada needs to increase its population by almost 66 per cent if it wants to compete with rest of the world and become more influential on the world stage. Currently Canada’s population is around 33 million and accepts about 240,000 new immigrants annually.
According to Information and Communications Technology Council within five years many companies will be seeking to fill almost 106,000 new positions in the information and communication sector.
To make matters worse, recruiting highly skilled immigrants will be challenging in the coming years due to competition from other countries. In a recent survey 22 percent of the new immigrants who arrived under the Federal Skilled Workers program expressed dissatisfaction with their job prospects. This could be due to foreign education and credentials not being recognized, cultural differences and language barriers.
The biggest asset any company has its skilled staff but that could all change in the very near future as competition of manpower continues to build at home and abroad