In this modern time, the majority of the population is consisting of middle-class people who hold the economy together for many developing and developed nations.
Canada has set a huge example for all the nations where middle class contribute more to the economic and social development of the nation. As per the recent statistics, there are many factors which are evident that Canada’s economy is strong and progressive:
- The economy has kicked the unemployment rate at its lowest level in 40 years.
- Canada is deemed as the fastest growing economies among the G7 countries.
- It is observed that Salary/Wages are increasing at their fastest rate in eight years.
- Jobs are created at the fastest pace over a decade, in the last two years alone the economy has created 450,000 new jobs.
- Business investment is recuperating and the employment rate of the working-age Canadians is at its highest level today.
All the aforementioned factors are apparent that Canada’s growing economy is the result of better govt. policies which includes immigration of skilled professionals. This also mean that Canada is open for more investment to shape the economy for future. More investment brings more opportunity. Coming to the Govt. policies, the Canadian Permanent Resident started receiving the Canada Child Benefit from July 20, 2016, which propelled the maximum household spending and overall domestic growth. This proves that investing in the middle class is the core of all the economic growth in the country.
According to Canadian Prime Minister Justin Trudeau, the govt. is making efforts for Canada Child Benefit two years earlier than expected due to the increasing cost of living. These efforts are considered to be a helping hand to support the costs of raising kids and help more families move forward. Govt. is determined improve the Working Income Tax Benefit to give more money to the low-income workers, including families without kids, and unmarried Canadians. Govt. announced a tax cut for small and medium businesses which will help the Canadian businesses to invest, grow and create more jobs for skilled professionals.
All the prevalent factor of economic boom is channeled by the Govt. through stronger middle class by creating jobs and opportunities. This is the high time for all the people to look towards the Canada immigration destination which has everything you aspire for.