Canada recently announced it would raise its annual immigration targets, such that in 2025, it would welcome 500,000 new permanent residents to the country.

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Canada's coming immigration boom will be the biggest in 60 years Back to video

Immigration Minister Sean Fraser said the government’s plan would “help businesses find the workers they need [and] set Canada on a path that will contribute to our long-term success” while also allowing the country to help vulnerable people fleeing persecution, wars and unsafe places.

This week on Down to Business, Mikal Skuterud, an economist at the University of Waterloo, spoke about what the immigration plan means for the labour market and how we arrived at the current state of affairs.

Skuterud said the current labour shortage happened suddenly in late 2021 for reasons that are still being hashed out. The conversation is edited for clarity and brevity.

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If you have any questions about the show, or if there are topics you want us to tackle, email us: downtobusiness@postmedia.com.

• Email: gfriedman@postmedia.com | Twitter: GabeFriedz