Impact of Immigration Trends on Canada's Economy

Canada's economy has experienced significant changes due to fluctuating immigration rates. With a surge in temporary residents, particularly international students and work permit holders, the population growth previously stood at 3%, which has now been projected to decline slightly. This shift is pivotal as the government aims to reduce temporary resident numbers by around 400,000 annually over the next two years, thereby potentially affecting housing markets and demographic dynamics. The discussion stresses the long-term implications of these changes on labor markets and economic growth, highlighting how decreased immigration could lead to a tighter job market and economic contraction.