More Immigrants Recruited to Aid Trudeau's Homebuilding Ambition [BNN Bloomberg (Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: BNN Bloomberg
Admissions of permanent residents with trades skills rose 29% from January through March from the average quarterly rate in 2023, according to government data obtained by Bloomberg. If that pace is sustained, Canada will grant residency to some 17,800 skilled construction workers this year. The increase is solely driven by recent immigration policy changes to bring in more tradespeople to ramp up homebuilding. It's crucial to Prime Minister Justin Trudeau's goal to more than double the pace of construction to add 3.9 million homes by 2031 as he tries to calm housing angst and reverse waning popularity. Immigration Minister Marc Miller has said Canada needs to do a better job at matching incoming talent to construction labor needs. In August, he announced the country's first-ever targeted selection program for newcomers with trades expertise to address shortages in the sector. While the policy alone isn't a panacea for Canada's chronic underbuilding of homes, it begins to addres
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Earnings
- 2/28/24 - Beat
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Sec Filings
- 5/17/24 - Form 424B2
- 5/17/24 - Form 424B2
- 5/17/24 - Form 424B2
- RY's page on the SEC website