Canada is quietly falling victim to “brain drain,” a trend marked by the ever-increasing exodus of well-educated young professionals to other countries, particularly the United States, a new report suggests.
Canada has a strong record of educating and training globally competitive workers and entrepreneurs, but struggles to retain them because of higher personal and business taxes as well as a lack of venture capital for startups compared to the United States, according to a new report by TD Economics titled, “Canada’s Silent Brain Drain.”
Modern brain drain is harder to measure than the more visible exodus of the 1990s because many workers now leave through temporary visas and semi-permanent work arrangements, the report says. No single data point quite captures it. Still, the report points to multiple indicators that suggest a growing loss of highly educated Canadians to the United States….