The Financial Accountability Office of Ontario has recently released a report on the Labour Market Outcomes of Permanent Residents in Ontario and its Major Cities. The report highlights the significant role that the employment outcomes of new permanent residents play in the province’s economic growth.
According to the report, Ontario is experiencing a record high of international immigration, with 227,424 immigrants arriving in 2022. The report also attributes nearly two-thirds of the increase in Ontario’s workforce since the mid-2010s to immigrants.
Ontario is the most popular province for newcomers, with a large allocation of nominations for its Provincial Nominee Program. The province is set to receive a total of 485,000 permanent residents in 2024, 500,000 in 2025, and 500,000 in 2026.
The report also provides insights into the demographics and economic contributions of newcomers to Ontario. Most of the recent immigrants to Ontario in 2022 were within the core working age, with 80% of them having post-secondary education credentials. Additionally, over half of Ontario’s newcomers are economic immigrants, with a higher median wage for those who arrived with a bachelor’s degree or higher.
The report also addresses the challenges and barriers faced by recent immigrants in Ontario, such as underemployment and foreign credential recognition. It also sheds light on the industries in which newcomers work, with a significant number settling in Toronto.
Despite the challenges, the report shows that the number of immigrants who choose to settle in Ontario has been on the rise. The report provides valuable data and insights into the immigration trends and labor market outcomes in Ontario.
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