Labour Shortages and Non-permanent Residents in Canada – They can fill labour gaps in “greying” industries says RBC

• The ranks of non-permanent residents (NPRs) swelled in Canada following the pandemic, growing 53% between 2020 and 2022.
• Canada’s two-tiered immigration system has attracted the right candidates to match longstanding shortages in roles ranging from childcare providers to software engineers.
• But it’s been less successful in matching these skills to future shortages in industries facing looming waves of retirements.
• And the current, elevated intake of newcomers is set to slow as the system catches up with pandemic disruptions
• The bottom line: As long-run demographic trends squeeze the workforce, Canada will need to maintain a high flow of NPRs. Shifting the mix of newcomers toward those with skills needed in greying industries is also important.
  Canada’s population boom owes much to temporary residents

Source: RBC Royal Bank