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Immigrant joblessness narrows to 6.4% as Canada looks to newcomers to build workforce

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The employment gap between immigrants and Canadian-born workers is narrowing, as employers increasingly rely on newcomers to fill jobs, new research from Statistics Canada shows.

The federal research agency found 78.9 per cent of newcomers aged 25 to 54 are in the workforce, compared to 84 per cent of people who are Canadian-born.

The unemployment rate for core working-age immigrants in 2017 was 6.4 per cent, the lowest since 2006 when Statistics Canada first began tracking employment among newcomers through its Labour Force Survey.

The comparable jobless rate among Canadian-born workers is five per cent.

Statistics Canada defines core working age as 25 to 54, a time when individuals in are most likely to have finished their schooling and not yet retired from the workforce.

Canada has an aging workforce, with the large baby boom population moving into retirement age and fewer young people available to take up jobs.

Relying on immigrant workers

In 2017, 26 per cent of Canada’s total workforce of core working-age were landed immigrants.

Statistics Canada says first generation immigrants will make up an increasingly important part of the workforce over the next decade.

By 2036, it projects the share of immigrants in Canada’s population would stand between 24.5 per cent and 30 per cent and Canada will be competing with other industrial countries for a share of young, skilled workers.

Most of the growth in the workforce between 2016 and 2017 was accounted for by immigrants of core working age and Canadian-born workers aged 55 and older.

From 2016 to 2017, which was a good year in Canada for generating jobs, 87,000 new immigrants joined the workforce, compared to 59,000 new Canadian-born workers.

The employment-rate gap between immigrants and the Canadian-born has narrowed for three consecutive years, and was lower than the national average in Manitoba and Alberta.

Newcomers who have been here 10 years or longer are most likely to have full-time employment. Still 65.2 per cent of those who came within the last five years were working.

Many people relate tales of struggling in their first few years in Canada, but the figures seem to indicate they eventually find work, though perhaps not in the field they prefer.

Newcomers are more likely to have low-paying jobs in the accommodation and food industries, but are also one third of the workforce in high-paying industries such as finance, insurance, real estate, rental and leasing services, as well as professional, scientific and technical services.

Filipinos have better employment levels than Canadians

The highest employment rates were among immigrants from the Philippines, with 88.5 per cent of them having jobs, a better rate of employment than the Canadian-born population.

Statistics Canada attributes this to high levels of education among Filipino immigrants, as well as strong English skills and a school system closely related to the North-American system.

Immigrants born in Africa had less success in the job market with 72.5 per cent of them employed. They make up about 10 per cent of Canada’s immigrant labour force aged 25 to 54.

This group may have more difficulty because a lot of them come to Canada as refugees and are likely to have less support, including family support, in their early years in Canada, the federal agency said.

Immigrant women are also less likely to be employed than men — with 72 per cent of them in the workforce, compared with 82 per cent of Canadian-born women in the core age group.

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Real Estate

7 Tips For First-Time Home Buyers In Calgary

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Buying a house for the first time can be overwhelming to say the least. If you’re wondering what neighbourhood to go with, what you can afford, or even how to just get started on the process, let us take some stress off your hands! We’ve teamed up with Hopewell Residential to give you 7 tips to ensure the home you end up with is everything you dreamed of.

Hopewell Residential is a five-time Developer of the Year award winner, so their expertise is second-to-none in Calgary and beyond. Who better to learn home-buying tips from than the homebuilders themselves?

Create a checklist of needs & wants

This is a biggie. When you’re buying your very first home, you’ll want to weigh your needs vs. your wants. Ensuring you have what you love in your first home is a big, big deal.

What should you do? Easy. Set up a list of needs and a list of wants, but be pretty strict with yourself, and make sure you take your lifestyle into consideration. With the increase in remote work over the past year, it’s important to keep in mind that a home office or flex room might just be the key to maximizing at home happiness. Especially if you’re thinking you might be expanding your family later on, spare rooms and extra space is key (but more on that later!).

Or for instance, you might need a home in an area with a high walkability score, but you want to be close to certain amenities. Set yourself up with the right level of compromise and the number of homes that actually fit your ‘perfect’ idea will skyrocket.

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‘Don’t give up’: Ottawa Valley realtors share statistics, tips for homebuyers in ‘extreme’ sellers market

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The real estate market in the Ottawa Valley can be summed up this way: people from far and wide are in a buying frenzy, but there’s hardly anything to buy at the “store,” and the limited inventory is overpriced.

This “stampede” — as one realtor described it — will affect rural towns as residents grapple with finding affordable housing and agonize over their inability to purchase homes in their price range.

“We are seeing a lack of inventory in all price ranges,” said Laura Keller, a real estate agent from Carleton Place.

Helen Vincent, a Renfrew realtor, said she’s never seen a market like this in her 36 years of practice. “We postpone offers for four to five days in order to get all the buyers,” she said.

Multiple offers — between seven and 10 — became the norm, with cash offers and no conditions, as buyers faced bidding wars. “In Ottawa, they have up to 50 (offers),” she added.

“It’s very stressful. You’re going to get nine (people) ticked off, and one happy. So many people are disappointed,” Vincent said.

Terry Stavenow, an Arnprior realtor for 40 years, said that “the pent-up need took over with inventory going low. It made a stampede on everything that was available.“

“Brand new housing — it’s very much gone. Several building developers are rushing to get inventory. They usually don’t do construction in the winter months,” said Stavenow.

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10 Tips For First-Time Home Buyers

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Buying a home for the first time is exciting and a commitment to the future. It’s often challenging, too, and the process requires a lot of steps, many of which can be tricky to navigate as a first-time home buyer.

What are some things you should keep in mind as a first-time home buyer?

First-Time Home Buyer Tips

Here are 10 tips to keep in mind as you begin your journey toward homeownership.

1. Have Your Finances in Order

It’s wise to begin saving as early as possible once you’ve made the decision to purchase a house. You’ll need to consider the down payment, closing costs (which often range from 2% to 5% of the down payment), as well as move-in expenses.

You also need to understand the other costs of homeownership, such as mortgage insurance. property taxes, utilities, homeowner’s insurance, and more.

2. How Much Can You Afford?

Knowing how much you can realistically afford in a home is another important financial consideration. Look for the home of your dreams that fits your budget.

One way to avoid future financial stress is to set a price range for your home that fits your budget, and then staying within that range. Going through the preapproval process will help you understand what price range is realistic for your budget.

3. Make Sure Your Credit is Good

Another thing to keep in mind as a first-time home buyer is your credit score because it determines whether you qualify for a mortgage and affects the interest rate that lenders offer. 

You can check your credit score from the three credit bureaus – Experian, Equifax, and TransUnion.

This is another good reason for getting preapproved before you start your search. Learn more about the preapproval process and your credit score.

4. Choose The Right Real Estate Agent

A good real estate agent guides you through the process every step of the way. He or she will help you find a home that fits your needs, help you through the financial processes, and help ease any first-time buyer anxiety you may have.

Interview several agents and request references.

5. Research Mortgage Options

A variety of mortgages are available, including conventional mortgages – which are guaranteed by the government – FHA loans, USDA loans, and VA loans (for veterans).

You’ll also have options regarding the mortgage term. A 30-year fixed-rate mortgage is popular among many homebuyers and has an interest rate that doesn’t change over the course of the loan. A 15-year loan usually has a lower interest rate but monthly payments are larger.

6. Talk to Multiple Lenders

It’s worth your time to talk to several lenders and banks before you accept a mortgage offer. The more you shop around, the better deal you’re liable to get – and it may save you thousands of dollars.

7. Get Preapproved First

Getting a mortgage preapproval (in the form of a letter) before you begin hunting for homes is something else to put on your checklist. A lender’s preapproval letter states exactly how much loan money you can get.

Learn more about the preapproval process and how preapproval provides you with a significant competitive advantage in our article How Preapproval Gives You Home Buying Power.

8. Pick the Right House and Neighborhood

Make sure to weigh the pros and cons of the different types of homes based on your budget, lifestyle, etc. Would a condominium or townhome fit your needs better than a house? What type of neighborhood appeals to you?

9. List Your Needs and Must-Haves

The home you purchase should have as many of the features you prefer as possible. List your needs in order of priority; some things may be non-negotiable to you personally.

10. Hire an Inspector

Hiring an inspector is another crucial step in the home buying process. An inspector will tell you about existing or potential problems with the home, and also what’s in good order. You can learn more about home inspections and how to find a home inspector through the American Society of Home Inspectors website.

Buying a home for the first time is a challenge, but it’s one you can handle with the right planning and preparation.

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