As the federal government moves to lower the intake of temporary residents, a CIBC report is calling on policymakers to maintain a “balancing act” between housing and labour 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 into the country are having, particularly in the labour market,” the report, by economist Andrew Grantham, cautions.
In Grantham’s ideal scenario, government economic incentives would have a chance to kick into gear as interest rates fall, giving the government the opportunity to import the number of workers needed.
