🇨🇦 🇮🇳 🚷 Canada may need 15 million workers over the next decade, says Indian envoy

Speaking in an interview, Patnaik linked the potential demand to Canadian Prime Minister Mark Carney's target of catalysing $1 trillion in investments over the next five to 10 years. "Canada is a country of 42,000,000 people. Your workforce is reducing every year, and the calculation is that about 186,000 to 200,000 jobs are going down every year, not jobs, people in the workforce. You have about 21 million in the workforce, and they're retiring at the rate of about 25 to 26,000 people a week, a month, and so it's about 186,000 in a year," Patnaik said.

According to Patnaik, every $1 billion in capital investment typically requires between 10,000 and 15,000 workers. Applying this estimate to the proposed investment target, he projected a potential requirement of up to 15 million workers.

Patnaik also highlighted Canada's demographic challenges, noting that the country has a population of around 42 million and faces a shrinking share of working-age people. He estimated that retirements are reducing Canada's workforce by between 186,000 and 200,000 people annually.

https://m.economictimes.com/nri/latest-updates/canada-may-need-15-million-workers-over-the-next-decade-says-indian-envoy/amp_articleshow/134937200.cms