Last Updated On 8 July 2023, 9:36 AM EDT (Toronto Time)
IRCC sent out 5,000 invitations to apply (ITAs) in 4 different Express Entry draws this week with CRS cutoff score ranging from 439 to 511.
A good week for the profiles invited in these 4 Express Entry draws especially in Francophones and Healthcare targeted invitations, who were otherwise struck in pool with every time high CRS cutoff score in no program specified draws.
Express Entry draws 2023
It is an historical week for Express Entry with back-to-back draws from July 4 to July 7, 2023 and officially the introduction of new targeted draws.
This week is also unique as it has provided more clarity to applicants awaiting an ITA in the Express Entry pool.
In this article, we provide our observation and expectations for Express Entry applicants in the pool waiting for an invitation.
Total Number of Invitations Remains Same
We were expecting IRCC to keep up with total number of ITAs around 4,800 based on previous draw sizes.
It seems like IRCC has kept up with this total number by inviting overall 5,000 profiles this week.
IRCC has previously clarified that normal ‘no program specified draws’ will continue, but new targeted draws will be part of the invitations.
So based on this week’s number of ITAs, it seems like IRCC broke down the total invitations among ‘no program specified’, Healthcare, STEM, and Francophone profiles.
If there would have been no targeted draws at all, we could have seen around 4,800-5,000 invitations to apply (ITAs) going under ‘no program specified’ draws.
Moving forward we can see similar splitting up of ITAs in bi-weekly draws among different categories.
IRCC held ‘no program specified’ draw first and then declared the targeted draws in staggering manner.
Overall this could have benefitted the targeted draws on following days for STEM and healthcare occupations as well as Francophiles.
Although, IRCC is trying to be transparent, but we believe that with introduction of targeted Express Entry draws, more clarity is still needed.
First draw of this week was announced on July 4, 2023 and public data for CRS score distribution in the pool is updated on the same date.
However, they did not update the CRS score distribution in pool after 4th and it seems like IRCC might have only selected profiles depending on the available data as of July 4; even for the July 5, 6, or 7 targeted draws.
If you are one of the candidate who created an Express Entry profile after July 5 and still received the ITA in STEM, Healthcare, or Francophile draw, please contact us.
Anyhow, staggering pattern has developed this week with ‘no program specified’ draw on first day followed by occupation specific draw as well as for francophiles.
These 2 occupation-specific Express Entry draws will be seen more often as compared to rest of the targeted draws for Trades and Agriculture.
Furthermore, most of the Express Entry profiles among the occupation specific draw qualifies for STEM occupations followed by comparatively low number in healthcare.
We did a poll on our official Instagram account. Voting from our Instagram family says, around 65% users have experience in STEM occupations, while only 38% are qualifying for healthcare draws.
Although, this poll is only by our Instagram fam, but it clearly indicates to the significantly higher CRS score cutoff for STEM profiles as compared to healthcare.
There are comparatively more profiles in STEM as compared to any other targeted occupations sector.
Low CRS Cutoff For Rest of The Occupations
We predicted low CRS cutoff score for healthcare around 465, but it came at 463. So, our expectation was close.
Everyone is talking about STEM, Healthcare, & Francophiles this week, but our expectation is that IRCC will have to keep up with their commitment.
Truck drivers, Carpenters, Plumbers, Electricians, Butchers will be the most to benefit out of these.
In an Express Entry targeted draw for these 3 sectors, we expect CRS cutoff to remain lower than healthcare draws or even further lower than Francophone draws.
Overall, we always recommend our readers to create an Express Entry profile if they are eligible as IRCC is full of surprises.
But, if you have experience in one of the occupations listed below and you qualify for Express Entry, make your profile asap.
It is more likely that IRCC will be targeting these occupations as part of their selection criteria in upcoming targeted Express Entry draws.
Residential and commercial installers and servicers
73200
Elevator constructors and mechanics
72406
Machine fitters
72405
Heating, refrigeration and air conditioning mechanics
72402
Construction millwrights and industrial mechanics
72400
Contractors and supervisors, other construction trades, installers, repairers and servicers
72014
Aircraft assemblers and aircraft assembly inspectors
93200
Railway traffic controllers and marine traffic regulators
72604
Engineer officers, water transport
72603
Deck officers, water transport
72602
Air traffic controllers and related occupations
72601
Air pilots, flight engineers and flying instructors
72600
Aircraft mechanics and aircraft inspectors
72404
Railway carmen/women
72403
Managers in transportation
70020
Contractors and supervisors, landscaping, grounds maintenance and horticulture services
82031
Agricultural service contractors and farm supervisors
82030
Conclusion
Previously, everyone was suggesting to work on improving your CRS score, but situation has now changed with introduction of targeted draws.
If you are in Express Entry pool just work toward gaining experience in one of 82 selected occupations as well as learning French to fall under targeted draws.
Try finding job or payroll (not legal, but most of applicants use this route) in one of these 82 select occupations to have a better chance of receiving an invitation.
Remember, all these occupations are also on priority list for most of the PNPs.
We often meet individuals claiming that they are doing best of their effort to get Canadian PR, but don’t want to learn French.
It is Canadian official language and yes, you can learn it as you learned English in first place to sit for IELTS.
Rather than spending your hard earned money around $30,000-40,000 on getting LMIAs or job offers, earn little less and devote some time to learn French.
With dedication, it will not take more than 6 months and your permanent residency (PR) is almost guaranteed.
Learning French can boost your score by 50 points plus these are the least CRS score requiring profiles to bag an ITA. Not to forget, bilinguals also have better job prospects.
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On July 7, IRCC announced the Francophile Express Entry lottery for candidates with a minimum level 7 proficiency in French. The minimum CRS score was 439.
On July 6, 2023, a targeted Express Entry draw for 35 healthcare occupations will issue 1,500 permanent residency invitations. The minimum CRS score was 463.
On 5 July 2023, IRCC sent only 500 invitations to register for 24 STEM occupations with a CRS score of 486 or higher.
On July 4, 2023 – No Program Specified Express Entry draw sent 700 invitations to apply (ITAs) to candidates with a CRS score of 511 and at least six months of experience in one of the STEM occupations within the last three years.
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
