The arrival of COVID-19 vaccines and the vaccination widely happening in Canada have emboldened projections of economic surge later this year. This will naturally create a huge demand for skilled immigrants to arrive for work in Canada by filling the vacant jobs available in the country.
The positive encouraging economic forecast was done by the Conference Board of Canada. The Conference Board firmly expects that in the next 2 years employment will rise by 801,000 in 2021 and 499,000 in 2022. In fact, the Conference Board has found that Canada has already seen the recovery of 2.4 million jobs of the 3 million jobs lost due to the pandemic.
The growth of the economy is expected to be slow initially in early 2021 but will pick pace in the second half of the year. The availability and wide administration of vaccines will have a very positive impact on Canada’s economic growth.
The Board’s GDP forecast for 2021 is 5.3% and for 2022 is 3.5%. The large number of jobs that will be made available with the economic growth in Canada will motivate foreign nationals to go for Canada immigration. International students who are looking to work after their study in Canada will seek Canadian work permits after their graduation from Canadian institutions.
In 2021, the Conference Board is expecting an addition of 238,000 jobs in the 3rd quarter and 226,000 jobs in the 4th quarter. Most of these jobs are expected to be in industries that are most affected by COVID-19 like food services, hospitality & accommodation, recreation, and air travel.
On the immigration front, Canada has already set an ambitious target of 401,000 new Canada PRs in 2021, 411,000 in 2022, and 421,000 in 2023. This indicates the prospect going to be available to international migrants to have many more opportunities to immigrate to Canada on a Canada PR visa.
A rise in investment in real estate is another emerging development that will improve substantially in 2021, going further up in 2022. Even retail sales have started to pick up and revive from the COVID-19 situation.
If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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PR – Permanent Resident