How Canada is turning from a dream destination to a nightmare

economictimes.indiatimes.com:

Jobs crisis
Temporary residents and recent immigrants are driving up Canada’s unemployment rate, as record numbers of newcomers welcomed to the country to fill labor shortages are now struggling to find work, Bloomberg has reported.

The unemployment rate for temporary residents – including foreign workers, international students and asylum seekers – was 11% in June, according to Bloomberg calculations. Using comparable data, the unemployment rate for all workers was just 6.2% last month. Immigrants who’ve landed in the last five years are also having a hard time finding a job, with their unemployment rate reaching 12.6% in June.

“The biggest single weighted contribution to the rise in the unemployment rate has been from the temporary residence category,” Derek Holt, an economist at Scotiabank, said on BNN Bloomberg Television earlier this week.

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While the US has seen a widely-covered surge in authorized and irregular migration, the scale of the increase actually pales in comparison to Canada’s growth rate. For every 1,000 residents, the northern nation brought in 32 people last year, compared with fewer than 10 in the US.

Finding jobs in Canada getting harder. Youth unemployment rate rises to multi-year highs

Canada’s experience shows there’s a limit to immigration-fueled growth: Once new arrivals exceed a country’s capacity to absorb them, standards of living decline even if top-line numbers are inflated. The Bank of Nova