Loading ...How record-high immigration could be hurting Canadian productivity
Canada’s recent turn towards record-high immigration is already having measurable impacts on housing prices and employment numbers – but in a recent report, former Bank of Canada Governor David Dodge suggested that it is also eroding the country’s competitiveness and long-term productivity.
Canada once oversaw a carefully managed immigration system that prioritized “highly skilled workers,” the report said Ottawa has now “ramped up significantly” the intake of foreign students and other low-skilled temporary workers.
“Poor administration and the abuse of some programs are damaging the credibility of the system for immigrants and Canadians,” warned the report, which also cautioned that the “large and rising inflow of workers with lower skills” risks depressing wages.