Drop in Immigration Timely for Canadian Economy Faced With Tariffs Pressure: TD Bank

TD Bank signage is pictured in the financial district in Toronto, on Sept. 8, 2023. The Canadian Press/Andrew LahodynskyjThe federal government’s lowering of immigration rates has kept the unemployment rate 1 percentage point lower and reduced pressure on the country’s housing market in the face of U.S. tariffs, according to a new report by TD Bank.“All told, these developments are proving timely as the country simultaneously navigates a policy shock from the United States,” authors of the Oct. 28 report said.