When it comes to immigration, there are three economic categories: Employment-based, Business-based and Federal/ Provincial Nominee’s Allowance. These three classifications reflect the types of workers that arrive in the country and the types of workers that immigration authorities wish to attract. For example, Express Entry and Skilled Worker programs include unemployed workers while the existing residency requirements for the other programs. However, there is a difference when it comes to immigration applications.
The first economic category is Employment-based.
This includes both the permanent residents and temporary foreign workers that come to take up jobs. The economic category does not distinguish between residents and non-residents. It only recognizes workers coming temporarily. Hence, anyone who has come to work and whose permits or privileges have been extended can be included in this category.
The second economic category is the Business-based economic category.
This is subdivided into four sub-categories: Employment, Business and Related Programs, Imports and Exports, and virtual data room comparison. These sub-categories are used to track the performance of businesses and the direction they are heading. It also tracks the performance of the economy overall, as well as the direction it is going.
The third economic category, Employment-based.
It refers to workers for employment such as skilled or semi-skilled workers, or persons having an International Experience. This sub-category does not distinguish between workers having legal status and illegal immigrants. Rather, this sub-category focuses on the demand in the labour market and the availability of potential candidates for jobs.
The fourth economic category, Business and related programs.
Business and related programs refer to any type of program that results in a direct financial benefit to the sponsor. It may be tax credits, direct transfers, or licensing fees. The advantage of this sub-category is that it includes any program that results in income to the sponsor rather than just those programs resulting from having legal status. This sub-category, therefore, includes programs such as employment training, job training and development, training and developmental allowances, and investment opportunities. This broad category covers a broad range of potential immigrants for a variety of reasons.
The final economic category PNP
PNP is divided into three parts: Express Entry, Lottery pool, and pooling, refers to the selection process for immigrants.
Express entry is a fast system that uses lottery technology to match applicants with available jobs.
Pooling, on the other hand, involves employers and international students who enter a queue based on their qualifications and skills. The type of worker through express entry or pooling is often family members or friends who have skills that are needed in certain areas of the country.
As with all categories of immigration, economic immigrants need to go through a detailed assessment process. This assessment takes many forms. First, Express Entry requires the submission of work and language reports to Immigration authorities. Then, the provinces determine suitability for the immigrant based on the results of the expressions of interest and the availability of places in the country. Finally, the National Occupational Classification system is used to determine permanent residence status. The results are then sent to the Express Entry system to identify suitable candidates for immigration.
The economic category is an important part of the immigration process for a number of reasons. For example, a skilled worker who is from a low economic category but has the necessary skills for a particular occupation can often obtain an exception to the requirement for work eligibility. Similarly, there are times when immigrants do not meet the economic eligibility criteria for immigration but have skills that make them eligible for other types of immigration programs. For these individuals, a designated employer might offer them temporary residence status in the form of a work permit.