Canada\u2019s Prairie provinces got the biggest bang for their immigration buck in recent years and are poised to see GDP boosts of more than half a percentage point by retaining even more immigrants in the future, says a Desjardins report.<\/p>\n
\u201cAlberta, Saskatchewan, and Manitoba would experience more significant 0.3 to 0.6 percentage point boosts to GDP growth if their stronger economic conditions and better affordability attract a higher share of newcomers in the next few years,\u201d wrote Desjardins principal economist Marc Desormeaux.<\/p>\n
Desormeaux argues that the provinces get the biggest benefit from immigration when their immigration intake is large enough to share of the existing population and those immigrants can successfully integrate into the labour market.<\/p>\n
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Canada Jobs Rise By 150,000 As Quebec Unemployment Drops To 3.9%<\/a> \u201cImmigrants\u2019 outsized role in Canada\u2019s pre-pandemic expansion is clear,\u201d noted Desormeaux. \u201cFrom 2015 to 2019, immigrants accounted for over 70 per cent of Canadian employment gains, despite making up only about a quarter of the population aged 15 years or older.\u00a0<\/span><\/p>\n \u201cDuring that time, net new positions among immigrants outpaced those of Canadian-born workers in every single province. By 2019, employment rates for new immigrants had also outpaced those of the population born in Canada in nearly every province. This unfolded as a range of federal and provincial programs were put in place to improve newcomers\u2019 labour market integration.\u00a0<\/span><\/p>\n After the COVID-19 pandemic, the economic contribution of immigrants has only grown.\u00a0<\/span><\/p>\n \u201cNew immigrants experienced surges in employment and participation rates across the provinces in 2021 and 2022,\u201d wrote Desormeaux. \u201cThat, in turn, helped narrow the gap between the unemployment rate of new immigrants and that of Canadian-born workers.<\/p>\n \u201cFrom 2020 to 2022, immigrants landed within the last five years accounted for more net new employment than the Canadian-born population nationally and in half the provinces. That is despite the fact that the former group was less than five per cent the size of the latter group in that time.\u201d<\/p>\n Immigration trends show that not only are immigrants to Canada very likely to land jobs and do well in their adopted country but that their children are also likely to outperform Canadians in earning power over the course of their lifetimes.<\/p>\n Although the data shows immigrants who came to Canada as\u00a0children\u00a0grew up to earn less than other Canadians in their early 20s, that same research also reveals those children then caught up and surpassed their Canadian-born counterparts to earn more than them by the time they hit their 30s.<\/p>\n In its\u00a0Economic Outcomes of Taxfiling Immigrants Admitted as\u00a0Children\u00a0Compare to Canadian Taxpayers by Age at Taxation in 2020<\/i>\u00a0report, Statistics Canada documents the extra earning power of immigrants who arrived in Canada as\u00a0children\u00a0by the time they reach 30 years of age.<\/p>\n That data shows immigrants earned a median annual income of only $8,400, or almost a third less, 29.4 per cent, compared to the annual median income of $11,900 for all those who filed income tax reports in 2020. And immigrants continued to earn less on average than Canadians well into their 20s.<\/p>\n Then, at age 26, the data shows immigrants suddenly start earning more than their fellow Canadians. By the age of 30, the data shows immigrants out-earning their fellow Canadians by almost 8.6 per cent with immigrants raking in a medium annual income of $50,200 compared to the $46,230 median annual income of Canadians as a whole.<\/p>\n The reason for the income disparities between immigrants and other Canadians is attributable to their greater education. Immigrant families encourage their\u00a0children\u00a0to pursue more education and graduate more often with advanced degrees.<\/p>\n At every age, significantly more immigrant taxpayers reported post-secondary tuition fees than did the average Canadian.<\/p>\n Video<\/b><\/p>\n
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\nChildren Of Immigrants Out-Earn <\/b>Canadian-Born Workers By The Time They Hit 30 Years Of Age<\/b><\/h3>\n
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