RBC calls for immigration strategy reset to prioritize skills and economic alignment

A new report from Royal Bank of Canada warns that Canada's immigration system has lost its edge following recent population shocks and policy volatility. The report emphasizes that while immigration remains essential to combat population aging and shrinking workforce participation, public sentiment has turned negative due to systemic pressures. RBC argues that targeted sub-categories within Express Entry are undermining the merit-based points system by allowing lower-scoring applicants to bypass higher earners. To restore Canada’s competitive advantage, the bank recommends stabilizing overall population growth at around 1 percent, removing Express Entry sub-categories, concentrating regional shortage pathways within provincial programs, and rebuilding a two-step talent pipeline focused on high-skilled temporary admissions.

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