Canada’s Economy Continues to Expand, Prospects Bright for Immigrants

Canada welcomed 2013 with a robust economy as opposed to other countries hounded with financial woes. Canadians were simply happy to usher in the new year with a good number of sectors showing growth, especially the labor market where thousands of jobs were created recently. Canada entered 2013 with a strong economic performance. In contrast to the financial woes of many countries, the Canadian economy has seen growth in a number of sectors, with thousands of jobs added in recent months.

Canada’s population and financial growth is expected to depend significantly on immigration. With this, the government has made reforms in immigration policies, making them more proactive in luring the world’s brightest and most skilled workers and professionals to move onshore.

2013 Job Market

In 2012, there was continuous creation of jobs, a trend that started post 2008-2009 recession. This was a year when 312,000 positions were opened, mostly in the private sector in such fields as insurance, manufacturing, health care, education and finance.

The growth of the sector grew particularly high in December when a whopping 40,000 new jobs were opened. This was in contrast to the prediction that there would be 5,000 less jobs all over Canada during this time. Most positions that opened during the month were found in the construction, transportation and warehousing industries. Because of this, unemployment rate in the country has reached a four-year low.

What Foreign Workers Can Expect

economic growth of canadaThe positive economic and job creation patterns in Canada today are welcome news for people who are planning to move permanently to the country. Every year, there are nearly 500,000 temporary and permanent residents, and in 2013, the government expects to issue up to 260,000 permanent resident visas – 158,000 of which will be applied for through economic immigration programs. Additionally, over 180,000 temporary foreign workers worldwide are expected to come and work in different parts of the country.

Although all sectors in Canada have their own labor needs, there are certain fields where demands are the highest. Currently, sectors that have the most significant labor market shortages are natural resource management and construction. Employers are already hunting for qualified candidates overseas, including countries such as the UK, Portugal and Ireland.

Immigration and How It Affects the Canadian Economy

Immigrants play a key role in Canada’s continued economic success and are expected to play the same role into the future, according to Canada’s Minister for Citizenship and Immigration, Jason Kenney.

In October 2012, Kenney said it is the government’s number one priority to keep the nation’s economy and job growth patterns healthy. He says this is possible through new immigrants’ skills and talents keeping the Canadian workforce globally competitive.

Thousands of foreign nationals seek Canadian immigration through the country’s various programs, attracted by the promise of achieving their personal and professional dreams. In turn, Canada’s economy and society are also benefitted.

Various reforms to the country’s economic immigration programs have been implemented to help new immigrants find jobs and settle more quickly as they move. Some of these changes are the following:

The Federal Skilled Worker Program (FSWP)

The point system used for qualifying applicants under the FSWP has been changed to be more suited to the needs of Canada’s labor market. For example, more weight has been put on language skills as this is now considered key to employment success. Canadian employers can also now understand foreign job applicants’ qualifications with the new rule the new rule requiring that foreign education credentials be assessed, authenticated and evaluated for equivalency with the Canadian education system. Citizenship and Immigration Canada will start accepting FSWP applications on May 4, 2013.

Federal Skilled Trades Class (FSTC)

A new program, FSTC will be accepting applications starting January 2, 2013. It was created to address the country’s acute labor shortages various fields of trade. CIC will be accepting 3,000 applications for review in 2013 to ensure timely processing times.

Canadian Experience Class (CEC)

The importance of this program to the Canadian economy has been repeatedly emphasized by Minister Kenney. The CEC is designed for applicants who have already studied or worked in Canada and therefore have a very good chance of succeeding in the labor market. The required length of full-time employment has now been reduced to only 12 months, which is half the older requirement of 24 months.

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