Friday, October 14, 2011

Reverse Brain Drain: U.S. Workers Head to Canada


GLOBE AND MAIL -- "Canada’s stronger economy is becoming a magnet for Americans hunting for work. In a reversal of historical flows, immigration lawyers report a surge of calls from Americans who want to move north. Statistics bear out their observations: A record number of Americans applied for temporary work visas last year, Immigration Canada statistics show, spurred largely by the contrasting health of the two countries’ labor markets.

The U.S. jobless rate is 9.1 per cent while Canada’s comparable rate – adjusted to U.S. concepts – is just 6.3 per cent (see chart above).

“It’s reverse brain drain,” says Toronto-based immigration lawyer Sergio Karas. “There are a lot of disgruntled people who say ‘America is letting me down.’”

MP: And Canada is not just attracting out-of-work Americans, it's also attracting wealthy Americans concerned about high and rising taxes in the U.S.: 

"Windsor, Ont.-based immigration lawyer Drew Porter is also seeing history reverse itself. He is fielding more calls from high-net-worth Americans who are worried their taxes are set to rise. “I’ve been doing this for 20 years now, and always the calls were from people that did well in Canada and wanted to move to the U.S. to increase their standard of living and minimize their income taxes,” he says. “It’s quite noteworthy to me that now I’m getting calls from the U.S. interested in Canada for the same reasons.”"

No comments:

Post a Comment