The pandemic slashed the migration Canada needs to replenish its aging workforce, the governor of the Bank of Canada said in a Toronto speech, and quickly making up the 100,000-worker shortfall from 2020 is an important part of combating inflation by addressing the excess demand for labour. Macklem said that’s on track to happen in 2023. (The Logic)

Talking point: The pandemic-driven shortage of workers has meant faster progression in the workforce for recent immigrants, as employers have “reached more deeply into the labour market,” Macklem said. Measures like remote work, targeted training and better child care can usher in more job opportunities—especially for women and Indigenous people, he said. Continuing with those measures will help Canada’s competitiveness in the long run, Macklem added, and government, business and workers themselves share responsibility for providing those opportunities and taking advantage of them.