Scotiabank economist Marc Desormeaux shares why immigration is a key national priority.
Population and labour force growth are important to keeping the Canadian economy strong.
Throughout its history, Canada has relied on newcomers to help stimulate economic growth.
“Immigration is becoming even more important to Canada’s economic success,” says Marc Desormeaux, senior Scotiabank economist. “Canada’s population is aging and its birth rate was among the lowest in the G7 before the pandemic. Over time, those factors are expected to limit the pool of workers available to contribute to the economy. Welcoming newcomers helps to offset the economic challenges caused by an aging population and a low birth rate.”