In his recent speech, Bank of Canada Governor Tiff Macklem spoke about how immigration may be the key to achieving labour market stability and correcting inflation. He stated that the Canadian labour market has more demand than labour supply. The governor stated that labour shortages had increased wages across the country, pushing inflation upwards. Macklem urges Canadian employers to hire immigrants to meet the rising demand for labourers and fight inflation – with preference given to recent arrivals.

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