Canada has the 9th largest economy in the world, with an annual gross domestic product (GDP) of $2.1 trillion USD (World Bank, 2023), and it is a member of the Group of Seven (G-7) countries with the most advanced economies.
The economic strength of Canada has also made it the world’s 13th most prosperous country (Legatum Prosperity Index, 2023).
During 2022, Canadian GDP grew by a robust 3.6% (Statistics Canada, 2023), however, several Canadian provinces and territories experienced economic growth that was much higher than the national average.
A key benefit of having a growing economy is the creation of thousands of new jobs in Canada.
Strong job growth, combined with many Canadians retiring, has resulted in a rising demand for skilled foreign workers in various sectors of Canada’s economy, which is why the Canadian immigration levels have been increasing each year.
This article will discuss the high demand for skilled professionals in Canada, the fastest growing industries in Canada and the province with the fastest growing economy in Canada, so keep reading to learn more!
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The Demand for Skilled Professionals in Canada
There is a high demand for skilled professionals to fill thousands of jobs in Canada.
During the first half of 2023, there were around 843,200 jobs in Canada advertised, but not enough qualified workers were available to fill them all.
Canada’s ongoing worker shortage is expected to get worse as millions of Canadians retire from the workforce this decade.
In order to address the demand for skilled professionals in Canada, the Canadian immigration levels have been increased significantly each year.
For example, the immigration goal for 2023 is to have 465,000 new Canadian permanent residents, the majority of whom will be skilled immigrants and their family members.
During 2024, the Canadian immigration plan seeks 485,000 new permanent residents and by 2025, the target jumps to a record 500,000 new immigrants.
Most of the skilled foreign workers immigrate to Canada through the Express Entry system.
Express Entry immigration to Canada requires that a skilled foreign worker have a certain amount of job experience in an eligible occupation that is listed in the 2021 Canadian National Occupational Classification (NOC) as TEER category 0, 1, 2 or 3:
TEER 0 are management occupations.
TEER 1 occupations normally require a university degree.
TEER 2 occupations normally require:
- Apprenticeship training that lasted at least 2 years; or
- A college degree; or
- Supervisory occupations.
TEER 3 occupations normally require:
- Apprenticeship that lasted less than 2 years; or
- A college diploma; or
- On-the-job training that lasted over 6 months.
Many of the high-demand skilled occupations are in the fastest growing industries in Canada.
Fastest Growing Industries in Canada
Information Technology
- Canada has one of the world’s leading information technology (IT) industries, which generates over $242 billion CAD in revenues per year and includes over 45,000 companies and more than 700,000 IT professionals. Toronto is a key information technology hub in Canada and globally, along with Vancouver, Ottawa and Montreal.
- High-demand skills in Canada’s IT industry include: software development, data analysis, DevOps, artificial intelligence, IT project management, blockchain, business system analysis, cloud computing, cybersecurity analysis, network engineering, virtual reality, robotic process automation and quality assurance analysis.
- Average salary for IT professionals in Canada is about $89,630 CAD per year, but it can vary depending on the occupation, years of experience, location and other factors. The average yearly salary in Canada for a software engineer is around $91,523 CAD; for a data analyst it is about $66,674 CAD; for a data scientist it is around $89,592 CAD; for an IT project engineer it is about $123,990 CAD; and for a cybersecurity analyst it is around $95,976 CAD.
Healthcare
- Canada has an advanced public healthcare system which is administered by the provinces and territories to provide free or subsidized healthcare to Canadian citizens and permanent residents.
- High-demand skills in Canada’s healthcare system include: registered nurses, dental hygienists, surgeons, midwives, opticians, speech-language pathologists, audiologists, dietitians, dentists, orthodontists, anesthesiologists, physical therapists, pharmacists, psychiatrists, counselors and radiologists.
- Average salary for healthcare professionals in Canada varies by occupation, location, years of experience and other factors. The average yearly salary in Canada for a registered nurse is about $83,349 CAD; for a general practitioner it is around $163,540 CAD; for a dentist it is about $169,990; for a pharmacist it is around $109,411 CAD; and for a physical therapist it is about $96,282.
Finance and Accounting
- The financial and accounting services sector in Canada is stable and thriving. Toronto is the top financial center in Canada, however, Vancouver, Montreal and Calgary are also key finance hubs.
- High-demand skills in finance and accounting in Canada include: accountants, accounts receivable and payable, bookkeepers, business analysts, controllers, financial advisors, finance managers, financial analysts, internal auditors, loan administrators and payroll specialists.
- Average salary for finance and accounting professionals in Canada is around $88,500 CAD, but this will depend on the specific occupation, years of experience, location and other factors. The average yearly salary in Canada for an accountant is around $60,540 CAD; for an auditor it is about $71,534 CAD; for a controller it is around $97,510 CAD; for a financial advisor it is about $57,664 CAD; for a financial analyst it is around $69,745 CAD; for a finance manager it is about $97,039 CAD; and for a payroll specialist it is around $61,842 CAD.
Engineering
- Canada’s engineering industry is forecast to experience steady growth over the next several years, includes 29,926 companies and has around 195,828 employees. The top cities for engineering jobs in Canada include Toronto, Ottawa and Vancouver.
- High-demand skills in engineering include civil engineering, electrical engineering, mechanical engineering, biomedical engineering, software engineering, architectural engineering, transportation engineering, process engineering, industrial engineering, project engineering and engineering management.
- Average salary for engineering professionals in Canada depends on the specific occupation, years of experience, location and other factors. The average yearly salary in Canada for a biomedical engineer is around $74,389 CAD; for a civil engineer it is about $73,051 CAD; for an electrical engineer it is around $73,232 CAD; for an engineering manager it is about $107,055 CAD; for an industrial engineer it is around $72,426 CAD; for a mechanical engineer it is about $73,051 CAD; and for a project engineer it is around $83,363 CAD.
Construction
- The construction industry in Canada is booming, contributing around $141 billion CAD to the economy each year and employing more than 1.4 million workers. It is forecast that by 2027, Canadian employers will need to hire around 113,100 construction workers.
- High-demand skills in construction include: brick masons, carpenters, construction managers, electricians, heavy-duty equipment operators, HVAC technicians, pipefitters, plumbers and welders.
- Average salary for construction professionals in Canada will depend on the specific occupation, years of experience, location and other factors. The average yearly salary in Canada for a brick mason is around $65,276 CAD; for a carpenter it is about $73,925 CAD; for a construction manager it is around $74,307 CAD; for an electrician it is about $73,618 CAD; for a HVAC technician it is around $64,791 CAD; for a pipefitter it is about $84,235; for a plumber it is around $69,517; and for a welder it is about $59,220 CAD
Fastest Growing Economy in Canada
Canada’s economy grew at a healthy 3.6% during 2022 (Statistics Canada, 2023), however, several Canadian provinces and territories had stronger GDP growth than the national average.
Saskatchewan had the fastest growing economy in Canada during 2022, with a strong 5.7% GDP growth reported.
The second fastest growing economy in Canada in 2022 was Alberta with 5.1% GDP growth, followed by Manitoba with 3.9% GDP growth, Ontario and British Columbia with 3.6% GDP growth each, Yukon Territory with 3.3% GDP growth, Prince Edward Island with 2.9% GDP growth, and 2.6% GDP growth for both Quebec and Nova Scotia.
During 2023, Alberta is forecast to have the fastest growing economy in Canada, followed by Saskatchewan, Prince Edward Island, Manitoba and Nova Scotia.
Conclusion
This is a good time to consider immigration to Canada, since there is a shortage of skilled professionals in various business sectors and occupations, skilled foreign workers are in high demand, Canadian immigration levels are being increased, and jobs in Canada generally pay well.
There are several Canadian immigration programs for skilled foreign workers and their family members, each with its own eligibility requirements and application procedure.
Since 2012, Canadian Visa Expert has been working with authorized immigration consultants who can evaluate your eligibility for immigration to Canada and also guide you step-by-step through the application procedure, so it will be easier for you to complete correctly.
Discover Frequently Asked Questions from Our Support
Which sectors are driving the growth of Canada's economy?
The growth of Canada’s economy is driven by finance, natural resources, information technology, construction and manufacturing.
How is the demand for skilled professionals changing in Canada?
There is increasing demand in Canada for skilled professionals in the science, technology, engineering and mathematics (STEM) field as well as the digital sector, healthcare occupations and skilled trades.
How is immigration contributing to the growth of Canada's economy?
According to the Canadian government, immigrants contribute to Canada’s economy by filling Canadian job openings; starting businesses and hiring workers; paying taxes; and spending money on housing, consumer goods, transportation, etc. Furthermore, immigrants account for close to all Canadian job growth and about 80% of Canada’s population growth, both of which stimulate the growth of Canada’s economy.
What are the opportunities for skilled professionals looking to immigrate to Canada?
There are great opportunities for skilled professionals who want to immigrate to Canada. There is a strong demand for skilled immigrants to help fill thousands of jobs in Canada and several Canadian immigration programs are available for skilled foreign workers and their families. Canada’s government has increased its annual goals for Canadian immigration to record levels: 465,000 new permanent residents in 2023, 485,000 in 2024 and 500,000 in 2025.
How can an immigration consultant assist in the process of moving to Canada?
Authorized immigration consultants, such as those who work with Canadian Visa Expert, can evaluate your eligibility for immigration to Canada so you will know which specific program you are qualified to apply for. Canadian immigration consultants can also guide you through the complex application process, to make it easier for you to complete correctly and to answer any questions you may have about the process.
Are there specific programs or initiatives to attract skilled professionals to Canada?
Yes! There are several Canadian immigration programs created for different categories of skilled foreign workers, such as the Federal Skilled Worker Program, Federal Skilled Trades Program, Provincial Nominee Program and Quebec Regular Skilled Worker Program. Priority selection for Express Entry to Canada is being given to skilled professionals in science, technology, engineering and mathematics (STEM) occupations, information technology, healthcare and French-speakers.
