Economy of Canada
Canada is one of the world's wealthiest nations, a member of the OECD and G8.
Canada is unique among developed countries in the importance of the primary
sector, with the Logging and Oil industries being two of Canada's most
important. Canada also has a sizeable manufacturing sector, with the automobile
industry being especially important.
Canada is a free market economy with much less government intervention than
most European nations. Canada has traditionally had a slightly lower per capita
GDP than USA southern neighbour (whereas wealth has been more equally divided),
but higher than the large western European economies. For the last decade,
after a period of brief turbulence, the Canadian economy has been growing
rapidly with low unemployment and large government surpluses on the federal
level. Currently Canada has the lowest unemployment rate in the last 3 decades
of its history.
For more details visit:
http://www.canadianeconomy.gc.ca/english/economy.
Natural resources
Canada’s huge land mass, the second largest in the world after Russia, ensures
that a wide array of natural resources are present. Different resources are
centered in different parts of Canada. In British Columbia the forestry
industry is of great importance, while the oil industry is central to Alberta's
prosperity. Northern Ontario is home to a wide array of mines, while the
fishing industry has long been central to the character of the Atlantic
provinces.
Energy
Canada is one of the only developed nations that is a net exporter of energy.
Most important are the large oil and gas resources centred in Alberta, but also
present in neighbouring British Columbia and Saskatchewan. The vast Athabasca
Tar Sands give Canada the world's second largest reserves of oil. The Oil
sector continues to be the leading sector requiring skilled workforce, proving
to be a major source of creating new jobs.
Job Market in Other Sectors
Agriculture, Manufacturing, Health Care and Services are other major sectors
contributing significantly to Canadian economy. As with all developed nations,
Services sector is one of the largest in terms of employment.
Overall Job Scenario
A prolonged year-on-year negative birth-rate combined with the fact that most
of the baby boomers now in rearly stages of retirement, has led to an acute
shortage of skilled workers in Canada. The total number of landed immigrants
through Canada’s immigration process are in-sufficient, by a long margin, to
fill the skilled workers requirements.
Due to continued growth in the Canadian economy and the continued shortage of
skilled workers, the Canadian Government seeks skilled workers with
transferable skills, to live and work in Canada. Targets for 2006-2007 allocate
up to 116,000 employer sponsored Work Permits alone including PNPs (Provincial
Nominee Programs) run by various Provinces of Canada, which can lead to a quick
Permanent Residency for such workers.
Legal Requirements to Work in Canada
To work in Canada, you need to be legally authorized / eligible to be employed
by way of : a. being a Canadian citizen b. being a Canadian Permanent Resident
(legal immigrant status equivalent to USA Green Card), or c. having / obtaining
a employer sponsored Work Permit from CIC (Citizenship and Immigration Canada),
duly authorized in certain cases by HRSDC (Human Resources and Skills
Development Canada).