Immigration measures should not neglect the labor market: CIBC report

As the federal government takes steps to reduce the influx of temporary residents, a CIBC report calls on policymakers to maintain a “balancing act” between housing and labor needs. “With so much attention focused on the link between immigration, population growth and housing affordability, it is easy to lose sight of the positive impact that newcomers to the country have, especially on the labor market,” said the report by economist Andrew Grantham. , warnings.

In Grantham’s ideal scenario, government economic incentives would be allowed to kick in when interest rates fall, giving the government the opportunity to import the necessary number of workers.