Non-Permanent Residents in Canada – The impacts of lowering the number

• Federal government efforts to limit non-permanent resident arrivals will likely slow the pace of gross domestic product growth in 2025 and beyond.
• However, per-capita GDP, the unemployment rate, broader inflation pressures, and interest rate expectations should not be significantly impacted.
• Slower non-permanent resident arrivals result in an older Canadian population, lower labour force participation, and slower growth in the government revenue base.
• The payoff from this policy shift is that it buys time for supply to catch up in sectors like housing where it takes substantial time for new construction to respond to increased demand, and where affordability levels have deteriorated dramatically in recent years.

Chosen excerpts by Job Market Monitor. Read the whole story @  How lowering the number of non-permanent residents will impact Canada’s economy – RBC Thought Leadership