Immigration and efforts made to improve the representation of minority groups in Canada may be the best path for the country to achieve economic growth and improve the living standards of its people in the next 20 years. A study conducted by the Conference Board of Canada considers certain labor force scenarios that could be beneficial to Canada in the period from 2018 to 2040.
In this period, there will be over nine million Canadian baby boomers in retirement and the demand for publicly funded social services will increase. According to the study titled Can’t Go it alone: Immigration is Key to Canada’s Growth Strategy, a quarter of the population will be at least 65 years old in 20140. The reduced labor force may have a significant impact on the economy of Canada. The Canadian government will spend a lot of money trying to provide the older population with health care.
Over 11 million students are expected to leave school in the period between 2018 and 2040. They are expected to provide the country with its labor force but that number is not enough. 13.4 million workers will be leaving the workforce so there will still be a gap to be filled. It is, therefore, necessary for the Canadian government to bring in immigrants to fill the gap.
About the Study
Can’t Go it Alone: Immigration is Key to Canada’s Growth Strategy is meant to evaluate how different solutions may help the Canadian government improve its economy and workforce. It assesses solutions which include improving the labor force, welcoming more immigrants to the country, and improving the participation of indigenous people, women, and persons with disabilities. It is also focused on advancing technology and improving the fertility rate.