News from SkillsInternational

Strong Outlook for Canada’s Economy, Job Growth

London, Ontario – Recently released Canadian government and other reports are showing a strong, stable economy in 2015 and steady growth through 2020. This bodes well for Canadian employers seeking to hire the world’s best talent to fill open positions as well as for professionals outside of Canada. Canada’s innovative, but under-utilized, new Express Entry immigration policy allows employers to hire “best-in-class” professionals from anywhere in the world in as little as 6-16 weeks.

The Canadian government jobs report shows:

  • Employment grew by 0.1% in August, and a gain of 54,000 full-time jobs.
  • Compared with 12 months earlier (August 2014), employment was up by 193,000 or 1.1%.
  • Canada’s expanding economy has added about one million jobs since 2010.

According to the Trading Economics website, Canada’s economy and job outlook are projected to steadily improve through 2020:

  • GDP annualized growth rate is projected to expand by from 1.8% to 3.01%.
  • The Canadian economy is expected to add 1,072,000 new jobs for a total of 19,046 jobs by 2020.
  • Average Canadian wages are expected to grow from $23.59/hr. Cdn. currently to $26.23/hr. Cdn. by 2020, further underscoring Canada’s claim to the “Richest Middle Class in the World.”
  • Canada’s low inflation rate is expected to remain steady in the 1.3%-1.4% range.
  • Canada’s population is expected to grow from 35.95 million to 37.39 million.