Meanwhile Canada Has The Lowest Unemployment Rate Ever
The IRCC will start holding draws based on market labour goals in early 2023, CIC news reports. This strategy is a part of the Express Entry system reform that was announced earlier this year, by the Immigration Minister Sean Fraser.
Currently, the Express Entry system uses a Comprehensive Ranking System and considers factors such as age, education, work experience and language skills to rank candidates. Under the new legislation, Bill C-19, Canada will be able to choose new residents according to regional economic and labour market needs.
Bill C-19 also dictates the minister’s obligation to engage in a public consultation process and annually report details of said draws to the Parliament.
Read More: Canada Planning Major Express Entry Changes
The Express Entry System has been in operation since 2015 and has worked well so far – so why change it now? It turns out, according to the Minister, that the current system does not allow the IRCC tailor the Invitations to Apply (ITAs) to align with the country’s needs and demands.
For example:
Most of the people who submitted their applications may be experts in Industry A. At the same time, Canada’s labour market is lacking experts in Industry B and would like to welcome more of them. However, if the applicants who are experts in Industry A have a higher CRS score than the applicants who are experts in Industry B (which Canada needs), those applicants will most likely get the ITA and ultimately obtain their permanent residency cards. The result: Canada’s labour market is still lacking experts in Industry B, but has received more people with experience in Industry A, which is at full capacity. The new legislation would help the IRCC invite more people from Industry B.
Before the Express Entry System, applications were processed in the order they were submitted, meaning that the applicants would wait for years before getting their PRs approved.
Low Unemployment Rate
While we await the newly tailored draws, Canada’s unemployment rate reached its all-time low. At the same time, the labour market lacks valuable people and employers are struggling to find workers. This is especially true for retail trade, which might also be suffering the consequences of inflation and changes in consumer behaviour.
Employment also fell in health care, information culture and recreation, and educational services. However, the most in-demand jobs in Canada are:
- Delivery Truck Drivers;
- Welders;
- Software Developers;
- Marketing Experts;
- HR managers;
- Nurses
- Electricians
- Engineers, etc.
Specific industries looking for employees:
- Manufacturing;
- Construction
- Hospitality;
- Retail
- IT
- Transportation and Logistics, etc.
Other than the workforce returning to normal after the pandemic, another reason for a low unemployment rate and employers struggling to find workers is retirement. More people over the age of 55 are opting for earlier retirement and are making the lives of HR managers more difficult. Add the great resignation to that equation and you have yourself a labour market jungle.
This could, of course, be fixed by landing more immigrants this year, which Canada is trying to do. The goal is to accept more than 430,000 permanent residents by the end of the year. Until now, Canada has landed around 200,000 new residents.
Read More: Canada Struggling With Finding Workers
Canada Is the Most Desirable Relocation Destination
Just as Canada needs young people to move in, the IRCC’s backlog of applications keeps growing and now stands at around 2.7 million people. To tackle the backlog, Canada has been working on assembling a task force that will track the processing of applications. The IRCC has also paused some draws and prioritized certain applicants, such as Express Entry applicants already in the country.
Even though the backlog continues to rise, people’s interest in moving to Canada is not waning, which does not come as a surprise.
According to Gallup, Canada is the top destination for migrants with an acceptance index of 8.46. Iceland, New Zealand, Australia, and Sierra Leone are among the top five most welcoming countries, with the United States ranking at number 6.
Canada’s acceptance of immigrants is what makes it the most popular relocation destination in the world, according to recent surveys.
Recent research from Compare the Market Australia also shows that Canada is the most popular move-to destination for a whopping 50 countries around the world. Canada’s multiculturalism and diversity, as well as its high ranks for government transparency, quality of life and education, make it a desirable destination for future permanent residents.
Canada knows it needs more immigrants, and Canadians are supportive of this motion. With the new Express Entry logistics, we might just achieve a win-win situation soon.