Though Canada’s economy is not technically in a recession, economists say it “feels like one,” given the current economic circumstances, as high population growth prevented an economic contraction.
I mean, they are? They are additional consumers in an economy increasingly being driven by consumer spending, where spending per person is falling. So, adding more people keeps things afloat even though each person is spending less.
The main issue is that high immigration is a bandaid (doesn’t address the issues causing spending to fall in the first place, and new spenders just get sucked into the same crappy economic climate once they get here as everyone else) and it comes with a host of other issues (e.g. increasing scarcity of high-quality, appropriate and affordable housing leading to further reduction in consumer spending).
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The last line kind of implies that immigrants had an active part in keeping things afloat.
I mean, they are? They are additional consumers in an economy increasingly being driven by consumer spending, where spending per person is falling. So, adding more people keeps things afloat even though each person is spending less.
The main issue is that high immigration is a bandaid (doesn’t address the issues causing spending to fall in the first place, and new spenders just get sucked into the same crappy economic climate once they get here as everyone else) and it comes with a host of other issues (e.g. increasing scarcity of high-quality, appropriate and affordable housing leading to further reduction in consumer spending).
Uhhh… Yeah. Sure. I wasn’t disagreeing, just highlighting it among the rest of the discussion.