One of the approach to economic stabilization policies discussed in chapter 8 is The Economy and Immigration. This policy was introduced to stimulate spending and create jobs so in order to control unemployment and inflation rates.
SUMMARY
The article that I have chosen is about Canada's latest immigration news on various changes and new policy implementations. In particular, I have picked out an article that talks on one of the action plan introduced by the Ministry of Immigration - A fast reviewing application process for the federal skilled workers coming into the Canadian boarders. It is said that the amount of time to receive the official response will be reduced from the seemingly endless years, to about 6 -12 months. Which is a very pleasing number for many eager foreigners who are wanting to come.
"Canada is facing a long-term labour shortage so the government is not going to turn off the immigration tap only to have to turn it back on later," stated Citizenship, Immigration, and Multiculturalism Canada Minister Jason Kenney. British Columbia and Alberta alone are going to need an additional 600,000 foreign workers over the next five years, he went on to say, as aging workers retire and their economies continue to expand.
CONNECTION
The new Ministerial implementations are designed to reflect the needs of the Canadian economy and its society. The most involving party in the Ministry of Immigration would probably be the government human resources, who are majorly responsible for national policies aimed at lessening the amount of structural unemployment in economy. This article also touched on the topic of supply-side economy, which is a stabilization policy that stresses increasing the supply of goods and services in order to reduce the level of prices and to create jobs. It emphasizes increased production in order to stimulate employment and take some of the pressure off price increases. If all goes well, and with a decent amount of skilled workers in various needing laobur forces in the country, Canada will have a very bright future despite of the current global-recessionary times many nations are facing.
REFLECTION
Currently, Canada is facing a shortages of various skilled workers in the country, and an example of an occupation are the lack of doctors, nurses, and many other medifield workers. It may seem to us that there isn't a big deal with a few hundred or thousand people unavailable for the country, as compared to the overall population of the country. However, that is a very wrong thinking. These few hundred or thousand of poeple are the curing gems that have the ability to turn our economy back up a knotch and so in a better shape to compete with other and neighbouring nations.
Revision on policies made by the Ministry of Immigration in coorperation with the national human recources department are signs of great efforts in the attempts on boosting the Canadian economy.
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3 comments:
After reading the article and your opinion on this situation here, I would agree with your point of view. The shortage of workers here is very important because as you say, they are the important factors that could bring our country back up. With immigration rates soaring higher than before, we need more and more skilled workers to keep the country running. As we all know, we are amidst a world wide recession here, and unemployment rates are soaring high, people without jobs would not spend much more money. If people were not to spend money, this would be harmful to other companies since they would have to lay off people since they are not making much money and also to the economy.
Kathy Tang
BLK F
Although there is a shortage of skilled workers in the Canadian Economy, I don't believe reforms in the immigration policy would benefit the economy in the long run. If we allow foreign workers to work in Canada, the competition for jobs with the locals would increase. Keep in mind that foreign skilled workers have to undergo re-train programs inorder to continue their work. Hence, they might decide to take on a job that requires minium training so they could start earning a living.Thus, this increases competition with the lower skilled workers. In times of recession, finding a job is hard enough already. By increasing the supply of workers while there is only a limited demand for require jobs benefits no one in the end.
John Hui
Blk.F
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