I absolutely understand the OP’s painful situation. Not being able to land a (desired) job can have a substantial effect on a professional’s psyche in today’s hyper-competitive world. And to the point of life in USA being much better than in Canada, it is, in many comparable walks of life but not entirely.
For most of the people looking to move north, it is the uncertainty of having a H1B knife hanging over your head for the foreseeable future that’s making them even look at Canada. But the OP is mostly right about life in Canada too, if you’re used to earning very well as experienced professionals in the US, Canada will absolutely be a step down. Canadian economy never did, nor it ever will, have as many opportunities as the US, but if you did your due diligence, you would know that well before making the move. It may also not work out for people in certain stages of their careers as it will be hard for folks in certain career trajectories to recalibrate their expectations to the realities of the Canadian workforce and industry. For eg., if you move from Bay Area to Toronto (Canada’s biggest city) as a 37 yo techie, there’s a close-to-zero probability of you landing a 200k-250k (not even in CAD) opportunity any time in the near future, which would be a reasonably plausible scenario if you were still in the Bay Area. Not saying it just won’t happen, Canada is a capitalistic country after all, but the chances are much much lower. And on top of it, things are expensive here, from groceries to car insurance, from housing to gas, utilities etc.
But, the peace of mind you get being a permanent resident is incomparable. The ability to have a social safety net at the end of your career as well as some of the biggest incentives to raising kids are also major merits in my book.
To wrap it off, I would like to emphasize a few pain points from a completely Desi perspective. For me, the US to Canada trade-off was well worth it for a few reasons:
I only ever worked on OPT in the Midwest of US, and my pay as a new professional wasn’t that high to begin with. Adjusting to Canadian salary was easier.
I’m a single guy in his mid-20’s; no additional pressure to provide for dependents when I moved here without a job.
I absolutely despised the lottery system as well as the highly arbitrary approval process you have to go through every time you apply for extension. Never even having to worry about work authorization is a great luxury for me.
Like I mentioned earlier, having a social safety net at the end of my career was important. I have yet to see what happens with the social security of the generation of my cousins and acquaintances who have been living in the US for more than a decade or longer, and waiting for a green card. So maybe this is not a major factor in many people’s decision.
The ability to travel home whenever I wanted was also a major pro for me.
I hope you didn’t read the above as a rebuttal (because it’s not at all the intention), but rather a timely reminder of the harsh realities of moving to a new place with very little professional connections. Nor do I wanna look like I’m preaching from my high horse. I want to provide as much perspective as possible and for folks to realize the importance of doing your research BEFORE moving here. There will be setbacks but I can assure you, having work experience from the US is easily the most favorable thing working for you.