Temporary residents and recent immigrants are driving up Canada’s unemployment rate, as record numbers of newcomers welcomed to the country to fill labor shortages are now struggling to find work.
The unemployment rate for temporary residents – including foreign workers, international students and asylum seekers – was 11% in June, according to Bloomberg calculations. Using comparable data, the unemployment rate for all workers was just 6.2% last month.
Immigrants who’ve landed in the last five years are also having a hard time finding a job, with their unemployment rate reaching 12.6% in June.
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