Two-Step Canada Immigrants Earn More

Two-Step Canada Immigrants Earn More

In Canada, immigrants arrive through either a one-step or a two-step process, notably affecting their earnings. 🇨🇦 The two-step method involves choosing economic immigrants from temporary foreign workers (TFWs) and international students with Canadian work experience. In contrast, one-step immigrants lack this prior experience. Stats Canada's recent report reveals intriguing insights into the economic outcomes of these pathways.

🌟Why Two-Step Immigrants Earn More
Two-step immigrants consistently outshine their one-step counterparts in earnings. The report notes this success is linked to two factors: a refined selection process and early exposure to the Canadian job market. 📈

🤝 Multiple-Selection Magic
The two-step process allows employers to directly assess TFWs' skills, aligning them with market demands. This tailored approach creates a better match, positively impacting earnings.

🚀 Early Advantage: Work Experience Matters
Two-step immigrants gain valuable Canadian work experience before securing permanent residency. This head start gives them a significant advantage over one-step immigrants without prior exposure to the local job market.

📚 Closing Gaps Over Time
While earnings gaps between one- and two-step immigrants narrowed over the years, sustained success relies on the skill level of TFWs. Notably, improvements in one-step immigrants' earning potential were observed due to a mandatory pre-migration educational assessment.

🤔 Challenges and Considerations 
However, the rising presence of TFWs and international students in low-skilled jobs poses challenges, including substandard working conditions and potential wage pressures. The report suggests a careful examination of the benefits and challenges of two-step immigration. 🧐

📊 The Bottom Line
The two-step immigration process in Canada emerges as a pathway to success, fostering better economic outcomes for immigrants. Yet, careful consideration is crucial to balance short-term labor demands with long-term economic competitiveness.

TRENDING NEWS

• Canada is in a "population trap," with rapid growth straining infrastructure and affecting living standards according to a National Bank Financial report. The 3.2% population growth in 2023, five times the OECD average, leads to housing shortages and economic stagnation. Policymakers face a dilemma as immigration levels clash with the need for sustainable growth. While government initiatives aim to stabilize immigration, the challenge remains complex, requiring a delicate balance between economic recovery and avoiding long-term consequences on housing and services. Read more
  

• Provinces respond to Ottawa's proposed two-year cap on international students, pledging to enhance oversight while warning of potential college and university closures. The cap, expected to reduce study permits by 35%, raises concerns about economic repercussions. Provinces aim to improve quality controls amid changes to Post-Graduation Work Permits eligibility, emphasizing the importance of protecting international students despite economic challenges. Read more
  

• Canada's Start-Up Visa (SUV) year-end goal remains strong, aiming to welcome 5,000, 6,000, and 6,000 newcomers in 2024, 2025, and 2026. By November, SUV had welcomed 1,145 new residents, a 104.5% increase from the previous year. Ontario and British Columbia are top destinations. The SUV program, while smaller in numbers, supports entrepreneurs with work permits, requiring investments from angel investors, venture capital funds, or business incubators. The process takes about 37 months. Read More
  

• More than 355,000 international students in Canada gained their permanent resident status in 2021-23, aiming to boost immigration numbers affected by pandemic restrictions. Immigration, Refugees and Citizenship Canada (IRCC) plans to accelerate processing PR claims for foreigners, addressing the dip in immigration during lockdowns. Despite concerns about housing challenges, Canada's Immigration Levels Plan sets ambitious targets at 485,000 for 2024 and 500,000 for 2025. Some Canadians express worry, emphasizing the need to address the existing housing crisis before welcoming more immigrants. Read more

• Canada’s housing crisis cannot be solved by cutting immigration says economist Jimmy Jean of Desjardins Group. He emphasizes the need for immigrants in construction and warns against swinging the pendulum too far. Jean cites Hydro-Quebec's demand for 35,000 workers as proof of Canada's need for immigrants. He acknowledges the balanced debate in Canada compared to the U.S., emphasizing the importance of doing better rather than doing less. Canada recently stabilized immigration targets at 500,000 for 2025-2026 for sustainable growth. Read more

POLL OF THE WEEK

NUMBERS TO KNOW

• British Columbia PNP Draw: Province Issues At Least 216 Invitations Read more

• Ontario Issues 1,481 Canada Immigration Invitations, Majoring On International Graduate Read more

• Canada has conducted the second Express Entry draw for the new year, issuing 1,040 Invitations to Apply (ITAs) under the General category. Read more

• Prince Edward Island PNP Draw: Province Issues 136 Canada Immigration Invitations

• Alberta Issues 108 Express Entry Invitations Targeting Healthcare And Agriculture Workers Read more

• Ontario PNP Draw: Province Issues 1,654 Canada Immigration Invitations

• Ontario French Speaking Skilled Worker Draw: Province Issues 984 Invitations

FEATURED PODCAST

In today's episode of “My Great Canada”, we delve into the policy decision by Immigration Minister Marc Miller to cap international students, aiming to address housing concerns. This significant policy shift, will impact provinces differently, and comes amid broader debates on managing immigration levels and ensuring a balanced, inclusive approach for Canada's future.

FEATURED VIDEO