{"id":11042,"date":"2023-10-17T14:20:49","date_gmt":"2023-10-17T14:20:49","guid":{"rendered":"https:\/\/www.canadacis.org\/?p=11042"},"modified":"2023-11-06T09:14:01","modified_gmt":"2023-11-06T09:14:01","slug":"lets-talk-numbers-financial-reasons-to-move-to-canada","status":"publish","type":"post","link":"https:\/\/www.canadacis.org\/blog\/lets-talk-numbers-financial-reasons-to-move-to-canada\/","title":{"rendered":"Let’s Talk Numbers: Financial Reasons to Move to Canada"},"content":{"rendered":"\t\t
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Let's talk numbers:
Financial reasons to Move to Canada<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Home<\/a><\/span><\/span><\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t<\/span>\n\t\t\t\t499000<\/span>\n\t\t\t\t+<\/span>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t
people are welcomed to immigrate to Canada each year<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Before taking on a big immigration journey, you are probably wondering\u2026 is it even worth it?<\/span><\/p>

As big fans of Canada, we could have said YES YES YES and told you hundreds of reasons why we find it an amazing place for life. Instead, <\/span>let\u2019s leave emotions aside and look at some financial facts why thousands of people worldwide want to live and work in Canada!<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\tPublished on November 6, 2023\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\tTable of Contents\t\t\t<\/h2>\n\t\t\t\t\t<\/div>\n\t\t
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Reason #1: Salaries are high across most industries!<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Did you know that the average salary in Canada for all industries amounted to 31.96 CAD per hour in 2022? According to the <\/span>Official Statistics of Canada (or known as the StatCan)<\/span><\/b><\/a><\/span>, full-time employees get an average wage rate per hour amounting 33.89 CAD while the part-time employees earn 22.44 CAD on average per hour. The official report was released last 6th of January 2023.<\/span><\/p>

Let\u2019s take a look at the latest average wage per industry! Currently, the report is divided into 2 categories; the good-producing sector and services-producing sector.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Goods-Producing Sector Average Hourly Wage in 2022-2023<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In Canada, this sector comprises industries involved in the creation and manufacturing of tangible, physical goods. This category often includes sectors such as manufacturing, construction, agriculture, and mining.<\/span><\/p>

Often workers in the good-producing sector are directly engaged in the production and processing of products, ranging from automobiles to agricultural produce and raw materials. On average, <\/span>workers in this sector earn 33.44 CAD<\/b> as per the 2023 StatCan report!<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\r\n Specific Industry Hourly Wage\r\n
NOTE: This StatCan report was released last 6th of January 2023<\/i>\r\n\r\n <\/th>\r\n
\r\n 2021\r\n <\/th>\r\n \r\n 2022 (to 2023)\r\n <\/th>\r\n \r\n <\/tr>\r\n \r\n
\r\n Agriculture\r\n <\/td>\r\n \r\n20.78 CAD\r\n <\/td>\r\n 21.75 CAD<\/td>\r\n <\/tr>\r\n \r\n
\r\n Forestry, fishing, mining, quarrying, oil and gas\r\n <\/td>\r\n \r\n 44.16 CAD\r\n <\/td>\r\n 44.30 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Utilities\r\n\r\n <\/td>\r\n \r\n47.08 CAD\r\n <\/td>\r\n 47.86 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Construction\r\n <\/td>\r\n \r\n32.03 CAD\r\n <\/td>\r\n 33.77 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n \r\n
\r\n Manufacturing\r\n <\/td>\r\n \r\n29.24 CAD\r\n <\/td>\r\n 31.01 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n \r\n<\/table>\r\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Services-Producing Sector Average Hourly Wage in 2022-2023<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In this sector, the primary value is derived from delivering expertise, skills, and experiences rather than physical products. Services such as healthcare, consulting, financial planning, and entertainment fall under this category.<\/span><\/p>

The services-producing sector is a critical component of a modern economy, as it often reflects a nation’s technological advancement and the shift towards knowledge-based industries. On average, <\/span>workers under this industry earn approximately 31.58 CAD per hour<\/b> as reported in the Official StatCan released last January 2023.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\r\n Specific Industry Hourly Wage\r\n
NOTE: This StatCan report was released last 6th of January 2023<\/i>\r\n\r\n <\/th>\r\n
\r\n 2021\r\n <\/th>\r\n \r\n 2022 (to 2023)\r\n <\/th>\r\n \r\n <\/tr>\r\n \r\n
\r\n Wholesale and retail trade\r\n\r\n <\/td>\r\n \r\n23.47 CAD\r\n\r\n <\/td>\r\n 24.70 CAD<\/td>\r\n <\/tr>\r\n \r\n
\r\n Transportation and warehousing\r\n <\/td>\r\n \r\n29.94 CAD\r\n <\/td>\r\n 30.37 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Finance, insurance, real estate, rental and leasing\r\n <\/td>\r\n 37.44 CAD<\/td>\r\n 38.84 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Finance, insurance, real estate, rental and leasing\r\n <\/td>\r\n \r\n38.47 CAD\r\n <\/td>\r\n 41.64 CAD<\/td>\r\n <\/tr>\r\n \r\n
\r\n Business, building and other support services\r\n <\/td>\r\n \r\n23.53 CAD\r\n <\/td>\r\n 24.88 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Educational services\r\n <\/td>\r\n \r\n36.70 CAD\r\n <\/td>\r\n 37.50 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Health care and social assistance\r\n <\/td>\r\n \r\n29.55 CAD\r\n <\/td>\r\n 30.70 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Information, culture and recreation\r\n <\/td>\r\n \r\n31.18 CAD\r\n\r\n <\/td>\r\n 31.23 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Accommodation and food services\r\n\r\n <\/td>\r\n \r\n17.34 CAD\r\n <\/td>\r\n 18.50 CAD<\/td>\r\n <\/tr>\r\n \r\n
\r\n Other services (except public administration)\r\n\r\n <\/td>\r\n \r\n26.88 CAD\r\n <\/td>\r\n 27.43 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n
\r\n Public administration\r\n\r\n <\/td>\r\n \r\n39.89 CAD\r\n\r\n <\/td>\r\n 40.79 CAD<\/td>\r\n <\/tr>\r\n \r\n \r\n \r\n<\/table>\r\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Reason #2: Your salary will grow over time.<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The government of Canada tries as much to keep up with the inflation rate. For this reason, Canada\u2019s hourly wages increase every year! Look at this chart of average wage per hour over time, you will be able to understand and see for yourself the opportunity that awaits you! \ud83d\ude09<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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$27.57<\/strong><\/span><\/h4>

2018<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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$28.32<\/strong><\/span><\/h4>

2019<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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$30.03<\/strong><\/span><\/h4>

2020<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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$30.67<\/strong><\/span><\/h4>

2021<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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$31.96<\/strong><\/span><\/h4>

2022-2023<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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NOTE:<\/strong> All wages are in Canadian Dollars<\/span><\/p>

Another best thing is \u2013 your salary will grow, as your experience and professionalism grow. Much like in the other culture, if your Canadian employer sees your responsibility and hard work, you\u2019ll see your salary growing. <\/span>On average, you can expect an increase of 7% per year which means your salary could get twice higher from your 10 years of working in Canada!<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Reason #3: Unemployment rate in Canada is less than 6%<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Before we dig deeper into unemployment, let’s understand first why we should get excited about Canada\u2019s low unemployment rate.<\/span><\/p>

Canada’s low unemployment rate is good news because it means that a relatively small percentage of people who want to work are unable to find jobs. <\/span>When the unemployment rate is low, it generally indicates a healthier job market with more opportunities for job seekers like you! <\/b>This can lead to better financial stability for you and your family as you earn a steady income in Canada.<\/span><\/p>

Let\u2019s look at the <\/span>unemployment rate of Canada over time<\/span><\/span><\/b><\/a>! Note that this report was released by the Official Statistics of Canada (StatCan) last January 2023.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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5.8%<\/strong><\/span><\/h4>

2018<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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5.7%<\/strong><\/span><\/h4>

2019<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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9.7%<\/strong><\/span><\/h4>

2020<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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7.5%<\/strong><\/span><\/h4>

2021<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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5.3%<\/strong><\/span><\/h4>

2022-2023<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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NOTE:<\/strong> All population centers and rural areas.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Reason #4: Cost of life is different across the Canadian provinces and territories<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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If you’re considering making the leap from the Emerald Isle to the Great White North, moving to Canada can be an exciting adventure. Canada offers a diverse landscape, a high quality of life, and a welcoming atmosphere for newcomers.<\/span> To help make your transition smoother, here are five useful tips:<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\ud83d\udca1EXPERT TIP! Take a look at the Cost of Living Index<\/div>\n\t\t\t\t\t\t\t\t\t
\ud83d\udcd6 How to Use and Read Cost of Living Index<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t
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\ud83d\udca1EXPERT TIP! Take a look at the Cost of Living Index<\/div>\n\t\t\t\t\t