A new Desjardins report suggests Canada’s immigration target increase could spur economic growth, with the Prairies standing to benefit the most.
Principal economist Marc Desormeaux says his analysis finds Canada’s plan to increase immigration could boost gross domestic product per capita if newcomers continue to have the same success getting work that they’ve enjoyed recently.
In November, the federal government announced a new immigration plan that would see Canada welcome 500,000 immigrants per year by 2025.
The Desjardins analysis finds Alberta, Saskatchewan and Manitoba would see the most GDP growth rate boost among provinces.
Desormeaux says that’s because those provinces have higher labour market participation rates and were the first to embrace provincial nominee programs, which allow provinces to select immigrants that match their economic needs.
The report attributes immigrants’ recent success at finding jobs to better integration of immigrants as well as Canada’s tight labour market.