The labour shortage has been drastically overstated that people regularly believe it as a justification for our current immigration levels. In a healthy economy of close to full employment, when someone leaves a job, gets laid off, graduates school, it takes time for them to train for a new job, relocate to where there is a job, etc. Companies have been led to believe they can have labour whenever they need and if they have difficulty hiring, we got a shortage. That is just the nature of a functioning economy. We have labour shortage in specific fields, for example, Alberta is in desperate need of anesthesiologist. The immigration levels are not helping fill that shortage. The skill is very specialized that the hospitals have specific recruiting teams that try to recruit individuals to fill those roles. If Tim Hortons is claiming a labour shortage (they are one of the largest TFW program users), they should pay people more, automate more of their production, provide other incentives (education training fund, franchise ownership share, etc.) to fill those roles.
Here is a little tidbit from the Dec 2023 employment report, note the section that immigration "didn't translate into significant growth in the labour force". Essentially immigrants simply added to demand without any increase in the labour force. We have a continually decreasing employment rate, which results in a higher dependency ratio, exactly the thing immigration is supposed to fix? The labour market is complex, when you bring in so many new people, there's a lot of unintended consequences. I am for immigration, but it needs to be considered and adjusted in small increments to see the impact, versus test out the highest population increase in the developed world and let's cross our fingers it's going to work out.
The population aged 15 and older grew by 74,000 in December, on par with average monthly population growth in 2023 of 79,000. Yet this time, it didn’t translate into significant growth in the labor force.
The employment rate — the proportion of the working-age population with jobs — continued to trend lower. It fell 0.2 percentage points to 61.6% in December, the fifth decline in the past six months, and down from its recent high of 62.5% in January 2023.