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  • Healthy Economic Growth in Canada Forecast to Continue

    Several indicators suggest that the healthy economic growth that Canada has been enjoying is likely to continue throughout 2014 and into 2015. For example, the Royal Bank of Canada (RBC) forecast in June 2014 that the overall Canadian economy is likely to grow by 2.4 percent during 2014 and expand by 2.7% in 2015. The same RBC analysis further predicts that Alberta will lead all other Canadian provinces and territories in economic growth during the next two years, with amazing growth rates of 3.7% forecast for Alberta in 2014 and 3.5% expected for 2015. Other Canadian provinces predicted to experience healthy economic growth during the 2014-2015 timeframe include Saskatchewan, Manitoba, British Columbia, Ontario, Nova Scotia and Quebec. Furthermore, the Canadian Federation of Independent Business reported in May 2014 that optimism by small business owners across Canada has reached a two-year high, with a large percentage saying that they plan to hire more employees during the next several months.  Thus, if you are thinking about Canadian immigration and want to find jobs in Canada, now is the ideal time to start the procedure.


    Much of the growth in Canada’s economy can be attributed to its booming oil and gas sector, particularly in the provinces of Alberta and Saskatchewan, which have maintained the top two lowest unemployment rates in Canada for over a year. Thousands of jobs in Canada are being created in the oil and gas industry, as well as other economic sectors related to the country’s abundant natural resources, such as the timber, mining and fishing industries. Many jobs in Canada are also expected to be generated in British Columbia as a result of $1.74 billion USD to be invested by the TransCanada Corporation to build a massive natural gas pipeline in BC to facilitate the shipment of liquefied natural gas (LNG) to the Pacific Rim market. In fact, the Canadian economy is projected to benefit in many ways over the next several years as Canada increasingly becomes a stable source for oil and gas supplies around the globe.


    Although the oil and gas industry has played a key role in Canada’s economic growth, other sectors of the Canadian economy are also doing well. For example, many jobs in Canada are being created in the construction industry, especially in British Columbia where there is a shortage of qualified skilled tradespeople in several construction-related occupations. Canada’s high-tech industries and various services sectors have also been doing well, plus $136 billion in products and services were sold online by businesses in Canada during 2013 (compared with $122 billion in 2012). These are just some examples of where Canada’s economy has been experiencing healthy growth. The main point is that this is a good time to apply for Canadian immigration, particularly since there is a major labor shortage and qualified skilled foreign workers are being sought to fill thousands of jobs in Canada.


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