2020 is off year but considering 2019, Canada labor market added 290K jobs in a year. Canada adds 30-40k jobs a month and this is very optimistic outlook. Even when US economy was great there were months with negative jobs as Canadian lost jobs. Source - Canada Labor force. Now, this 290K a year jobs includes all the jobs, even the retail ones. These are not highly skilled jobs. Canada immigration targets are 330K a year and cut off of 470+ means a Master's degree plus 3 YOE. So, the economy is adding 290K jobs a year total and Canada wants to invite 330K Master's degree young people to Canada! I wouldn't be surprised if Master's degree holders are delivering Uber Eats. Also note 330K are just permanent residents, visa holders and students working on work permit are not included in the calculation. Regarding US companies moving to Canada, hardly Canada is choice except parking offices. If companies want to move, they will move to India. Cheap labor and no immigration issue as anyone who suffers immigration in US are Indians, rest get GC on F1 visa itself. Canadians can come to US on TN so we can expect economy to be the same, more dependent on oil & gas and will not be a tech economy. TLDR: At current immigration levels, Canada will not be able to provide jobs to these many high skill people. Master's degree holder will be forced to do jobs in lower levels than expected or return back. I don't see wages going up in Canada and expect it to be a back-entry to the US for foreseeable future.
Not true, immigration has been a driving force for the canadian economy. Also most people prefer to live in Canada over the us, I am on the tn in the us but I am going back in a few years...just like all my Canadian friends. Canada's quality of life is very high with very little racism, health care, and positive job market.
Lol very little racism š
Any tech hub majorly needs 3 things - talent, investment, and an ecosystem. Canada is doing the right thing by inviting talent and trying to build an ecosystem. We need to see how much investment it can garner from the global world
You are right but Canada doesn't have ecosystem or investment. Number of VCs in Canada is less than number of VCs in Silicon Valley alone. They have difficult time keeping Waterloo grads in Canada. Also, government high tax laws and regulations, not providing incentive to investments and capital ending up in just real estate is not creating an ecosystem. The ecosystem simply doesn't exist. The ecosystem that exists is if you want to do something great then go to the US.
Doctors with foreign degrees do UberEats in Canada when they migrate. Most people that migrated with skilled visa currently work in warehouses instead of a related job. Itās better having a solid job offer before moving to Canada if you donāt have a Canadian degree.
Foreign degrees means nothing. Doctors with foreign degrees canāt even come to the US. Immigration and job search are two different things. In the US your job doesnāt promises you your greencard, citizenship. Same way, your immigration status doesnāt guarantees you a job. I donāt know why people assume Canada to be different. FYI: doctors degree outside of Canada/US is not recognized in Canada/US. They have to go thru university system again. So their degree is kinda worthless.
Thatās because they have Mickey Mouse degrees from Disney University.
Your comment about us companies not moving to Canada is incorrect. There is so much demand for engineers here and its growing every year. Wages in software have grown 10+% 5 years straight. Lots of new immigrants dont get jobs in their field because companies want canadian experience unless they are in software or finance. Canada proactively looks at its future demands and brings in immigrations based on that. Immigration actually also helps bring jobs in the market and companies look for diversity and stability.
Companies look for quality, not diversity. Donāt fall for the HR marketing.
Canada's problem is that of over qualification. So many people competing for the same few jobs, that companies have their fair share of who to pick. Unless it's a company like FAANG that actually might care about it's talent, most places are looking for the cheapest option available. Housing and rent is another fucking nightmare that is only going to get worse. Canada can have immigration, but 649,000 post secondary students, 350k "skilled immigrants", and God knows how many TFWs is just fucking insane. Canada is no longer for Canadians, it's for people who couldn't get a visa in the US, and immigrants from developing nations. The young woke Canadians are the ones fucking themselves over hard and it's only going to get worse.
This ^^
Omg, you guys live in your own bubble...the fact is canadian is always open to immigration because it has a positive affect on the economy. Demand for high tech jobs is at times high, there simply dont enough talent. Toronto added more tech jobs in the last few years than any city in north america. Wages have gone up as well.
Actually lot of H1Bs I know want to move to canada to start a company :)
Sure and everyone is going to succeed problem is access to capital, itās the same story with research a lot of people want to move but hardly any funding outside of USA.
Thatās a valid point but with so many engineers moving out there Iām sure funding will ease due to investor confidence
This is true but aside from the US all countries suffer from the same problem-UK? Germany? Australia? Wages in Germany and Australia are even lower than Canada
Yes but they don't have such high immigration targets to admit high skilled people.
Lol Germany admits a lot of immigrants. The whole of Europe lives there and works in tech.
This is a naive take on how the economy works. If the US had thought the same way throughout its history, it wouldnāt have become the economic behemoth that it is because there wouldnāt have been very many people in North America! Hereās another way of looking at it - the economy doesnāt ācreate jobsā for people. People are the economy! When we call āsomethingā the economy, that something is just a bunch of people making financial transactions. The more people there are, the more financial transactions there will be, the more the opportunities will be for new companies to vy for these peopleās money, and therefore the bigger the economy will get. Itās even better if these people are high skilled and highly productive capable of earning high salaries. This is economics 101
That is true- but there has to be a limit right? Thereās a certain critical threshold of immigration which is good for creating new jobs and labour. But the worry is that the ratio of skilled immigrants to available jobs is too disparate. - Say you have 100 job openings and 150 skilled immigrants itās a non issue. You can maintain the competitiveness of the economy - Now if you have 100 Job opening and 300 skilled immigrants itās going to lead to an imbalance. This is where Canada may head and thatās the fear.
Why do you think there arenāt ācorrective measuresā baked in? Presumably if you are high skilled, in Canada and unable to find a job at your desired compensation, you would leave the country. Since someone also commented about India, letās take that example. In the 90s and 2000ās, every other person was studying computer science in India even though there were little or no tech jobs in india apart from the IT outsourcers. Would anyone venture an opinion today that India is not a tech behemoth in its own right? Would that have been possible if India had said in the 90s and 2000s- oh we donāt have as many tech jobs as cs graduates, letās not churn out as many cs graduates?
Yes that is why a lot of uber drivers in canada are phds from India.
Because the system is fucking fucked. 649,000 post secondary plus 350k A YEAR in "skilled immigration". There's no job requirements. There's no checkpoints along the way. It's bring in everyone and anyone and dump them into Toronto or Vancouver.
Read some facts. Last year canada's unemployment rate was at all time low and wage were growing the fastest in 10 years...sounds like the system works...canadian has a short of talent and immigration is filling that.
Interesting to read. This may well be the reason for low salaries offered even for FAANG in Canada
So in 2015, the start salary for a software engineer was 65k, now its 100k and amazon starts you off here at 150k. FAANG had low salaries in Canada became there almost no FAANG. Take a look at hired.com wage report. From 2015 to 2020, toronto had the biggest increase in salaries and engineer job growth in the world. 5 years a good senior was making 120k in Toronto, today that number is 300k at amazon/Google.
Inflation and salaries raised in lot of countries because of FANG & stock growth but not enough to drive the market. Google office is very small in Canada, same for Apple and Facebook, and no Netflix. Only Amazon has presence in Canada! Local companies drives salaries up, in Silicon Valley these Airbnb Uber and such startups raised salary and talent. Local market lacks in Canada that will not drive the opportunities and growth.