Featuring Dawn Desjardins, RBC’s Deputy Chief Economist
2020 was supposed to be a record year for newcomers to Canada – what the country needed to offset an aging population. But then COVID happened. The lockdown, of course, didn’t only restrict the movement of people – it dealt a serious blow to Canada’s labour market with knock-on effects to other parts of the economy. How are sectors that depend on immigrants, such as agriculture and healthcare, faring? What are the broader consequences if newcomers stop coming? Dawn Desjardins, RBC’s Deputy Chief Economist, shares how the drop in immigration levels is impacting our economy.
The 10-Minute Take podcast provides insights from RBC economists and market experts on events unfolding around the globe.
‡ For relevant conflicts disclosure, please visit our Disclosure Lookup Tool.
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.