Ottawa happy to keep depressing Canadian wages
Vancouver Sun: 'Trudeau’s economic plan relies on increasingly record-high immigration counts — of 432,000 in 2022, 447,000 in 2023, and 451,000 in 2024. That compares to 250,000 when the Liberals were first elected.
'These targets, far higher than those in the U.S. or almost anywhere else, will impact economic equity in Canada, Wright says. “The evidence is very strong that the demographic group most adversely affected by higher immigration is the previous cohort of immigrants.”
'That’s in part because the largest group of immigrants is disproportionately those between 25 and 40 years old, which is the same cohort as the already large baby-boom echo, also known as millennials.
'An increase in immigration at this time amplifies the challenges millennials are having, particularly in the housing market, Wright says. “So, even if there is a valid argument for raising immigration levels, this is being done approximately 10 years prematurely.”'