Canada Immigration News Podcast
Canada Immigration News Podcast #41 – CEC Express Entry Draw, New Francophone Program & Start-Up Visa Surge
Stay informed on the latest Canadian immigration updates with our comprehensive coverage:
IRCC held a new Canadian Experience Class draw under Express Entry
On August 14, 2024, IRCC held a new Canadian Experience Class draw under Express Entry, issuing 3,200 Invitations to Apply! The cut-off score? 509 points, just one point lower than the last CEC draw on July 31. With the tie-breaking rule set to March 01, 2024, over 207,960 profiles are currently in the Express Entry pool. So far this year, Canada has issued a total of 72,542 invitations through 31 draws. If you’re in the pool, your chance could be next!
Canada launched a new program to boost Francophone immigration
Canada is launching a new initiative to boost Francophone immigration! Starting August 26, 2024, the Francophone Minority Communities Student Pilot program will kick off, focusing on attracting French-speaking students and immigrants to enrich Francophone communities across Canada. Announced by Minister Marc Miller at the Acadian World Congress, this program aims to increase study permit approvals and bring in talent from Africa, the Middle East, and the Americas. With a direct path to permanent residency and access to settlement services, this program is set to make a big impact!
Canada experiences surge in entrepreneur immigration via start-up visa
Canada is seeing a surge in entrepreneur immigration through its Start-Up Visa program! Over 3,000 newcomers have already arrived in 2024, marking a staggering 785.3% increase compared to last year. With 560 arrivals in both May and June, the mid-year total hits 3,010. British Columbia is leading the charge, even as other provinces see a dip. If this trend continues, Canada could welcome 6,020 entrepreneurial immigrants by the end of the year. The future looks bright for Canada’s start-up scene!
Canada’s stable employment sets the stage for potential interest rate reductions
Canada’s job market is holding steady, with just a slight dip of 2,800 jobs in July and an unemployment rate of 6.4%. This stability could pave the way for the Bank of Canada to consider cutting interest rates. Chief Economist Douglas Porter noted that employment growth has stagnated recently, with the jobless rate nearly a full percentage point higher than last year. While the student job market faces challenges and the employment rate dipped to 60.9%, sectors like wholesale, retail trade, and finance saw the biggest declines. Could rate cuts be on the horizon?
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