Statistic Canada informed that it will use “revised methodology” to compute the number of non-permeant residents, including temporary foreign workers and international students, reside in the country.
It says that it will circulate new data tables assessing the number of non-permanent residents in the country subsequent to a report issued by a major bank that the activity may be off by more than a million.
The agency informed in a media statement, starting from September 27new data tables on NPRs will be put in place by StatsCan, which will be calculated with the use of a revised methodology and going back to 2021.
The new system will contain further details and will be updated monthly. It will include a breakdown of the different types of permits such as temporary foreign worker visa versus student visas.
A CIBC Capital Market report issued a statement earlier this week indicating that the certified number of non-permanent residents in the country determined by policymakers could be massively underestimated.
Deputy chief economist at CIBC Benjamin Tal, in his report indicated that the certified number of NPRs that are used for planning process and widely quoted, undercounts the true number of NPRs residing in the country by nearly one million.
The report indicated, by undervaluing the number of non-permanent residents, the central government is underrating their efforts on the housing market and should exercise its fall fiscal information to take action.
The report states, the implication of undercounting is the affordability of housing that the country is facing, is in fact worse than alleged, calling for even more drastic and aggressive policy action, including a better method to link the rise in the number of NPRs to the capacity to house them.
Marc Miller informed, Canada is estimated to host roughly 900,000 international students this year, which is more than any other point in Canadian history and three times the number that arrived to the country a decade ago.
Sean Fraser housing minister drifted the idea last week of a plug on the number of students entering Canada. Fraser outlined a cap on international students as an option to handle Canada’s housing crisis as the surge in international students are to be partly blamed.
The proposal was rejected by the Quebec government, indicating that education is the exclusive authority of the province and it is the decision of the education institutes and provincial government to ascertain the number that they can accommodate. The proposal was also pushed back by the colleges and universities.
