Why Are Millions Of American Workers Leaving To Canada

Why Are Millions Of American Workers Leaving To Canada
In 2024, the job market, especially in the tech sector, is experiencing significant shifts, with Canada emerging as a major hub for tech jobs. The country has created approximately 1.1 million tech positions in the past year alone, catalyzed by the increasing demand for tech skills and strategic immigration policies. This growth is partly due to the U.S.'s restrictive H-1B visa policies, where only 188,000 out of 758,000 applicants were selected, pushing tech talent to seek opportunities in Canada.

The Canadian job market in 2024 is particularly appealing for unemployed or underemployed tech workers in the U.S., many of whom are unable to secure H-1B visas. Canada's tech job market benefits from this situation, as the country has implemented initiatives to attract these skilled workers, including a pilot program allowing 10,000 H-1B holders to apply for a three-year work permit, which reached full capacity on its launch day.

Cities like Toronto and Vancouver have seen the most growth, adding 89,000 tech jobs in the last year. The Canadian tech sector is now ranked third in North America, trailing only behind the San Francisco Bay Area and New York City, according to CBRE. This ranking reflects the robust tech infrastructure and the burgeoning demand for tech-related roles across various sectors.

Job hunting in Canada has become more attractive due to higher job security and competitive salaries, despite being lower than U.S. averages. For example, the average annual salary for Canadian tech workers stands at $94,800, compared to $129,700 in the U.S. However, the tech job market in Canada offers stability and growth opportunities that are currently more appealing to many tech professionals.

Moreover, Canada is actively improving its appeal to international and domestic tech talent through clearer pathways to permanent residency, which has helped retain highly skilled workers contributing to economic stability. This is crucial in a job market where newly graduated U.S. STEM students struggle to find employment in their field, with only 14% securing STEM jobs post-graduation in early 2024.

Canadian employers are also responding to the needs of the digital economy by increasing their tech job postings by 65% from the previous year, reflecting ongoing digital transformations and investments in tech infrastructure. These developments indicate that Canada's tech sector is not only absorbing unemployed tech workers but also driving innovations and creating new job opportunities.

As we progress into 2024, the tech job market in Canada is poised for further growth, underpinned by a strong influx of skilled workers and a proactive approach to meeting the demands of the modern digital landscape. This makes Canada an increasingly attractive destination for tech professionals globally, reinforcing its status as a leading tech hub in North America.

CHAPTERS:
0:00 Canada's Job Market
2:39 Migration Of US Workers To Canada
3:45 Unemployment Rising In U.S.
4:14 Inmigration To Canada
5:43 Graduates Unemployed
6:23 Increasing Job Market In Canada
7:23 Job Market In The U.S.


Produced by: Samantha Harvey
Edited by: Jacob Smith
Animation: Charlotte Brown
Additional Footage: Getty Images

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