Uncommons with Nate Erskine-Smith

Economics of Canadian Immigration: Part 1 with Mikal Skuterud

Nov 1, 2024
In this discussion, Mikal Skuterud, a University of Waterloo professor and seasoned consultant on Canadian immigration economics, shares his keen insights. He critiques the government's handling of temporary foreign workers and the implications of recent shifts in immigration policy. Skuterud emphasizes the importance of balancing temporary and permanent immigration to avoid economic pitfalls. He also highlights how current policies may exacerbate labor shortages and public service strains, calling for clearer, coherent immigration strategies to enhance Canada’s economic resilience.
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INSIGHT

Immigration's Economic Impact

  • Immigration offers economic potential for raising average living standards.
  • However, it's not "necessary" for economic prosperity, as some claim.
INSIGHT

Two-Step Immigration System

  • Canada's two-step immigration system, where temporary status leads to PR, requires careful management.
  • The rapid growth of non-permanent residents compared to available PR spots raises concerns about the future of those unable to transition.
INSIGHT

Economic Growth and Capital

  • Economic growth is about GDP per capita growth, not just overall GDP increase.
  • Canada has an investment problem; focusing on labor without addressing underinvestment dilutes capital stock.
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