Pandemic-related immigration slowdown threatens Canadian economy
A new report by the Royal Bank of Canada Economics shows that the immigration slowdown could threaten the Canadian economy. According to the report, in the best-case scenario, this year Canada will admit only 70% of the target number of 341,000 immigrants. Canada added 34,000 permanent residents in the second quarter of 2020, down 67% from the same period in 2019. In the second quarter of the year, Canada welcomed 34,260 permanent residents, which only one-third of 94,275 immigrants admitted in the second quarter of 2019. The number of work permits was also down around 50% in the quarter. As for the study permits, the decline is even more significant – 10,000 new study permits processed, down from 107,000 in 2019. In general, TRV applications were down 80%.
#IRCC, #RBC, #immigration_levels, #work_permits, #study_permits, #TRV