Thursday, January 28, 2021

With Programs like These, What is the Real Unemployment Rate of Canada?

As unemployment rates have a .magical calculation that economists and those around a water cooler like to fester about, it is a calculation that relies on fixed inputs such as a given population of those SEEKING work (which must be able to be tracked and measured, that is a Canadian, a resident, a permanent resident most likely on the CRA tax paying list as one way) and the jobs created for that group.  

If another supply of "untracked" labour is able to suddenly appear and legally work in Canada thanks to such new policies as these, then should the unemployment rate be adjusted higher for those jobs filled that are not  against those who were part of the fixed "seeking work" group? 

In other words, if one job is filled by an individual that is a new entrant and not part of any statistics or a fixed "seeking work" group should that not be negatively reflected in the unemployment rate somehow?

Post-Graduate Work Permit (PGWP):

"...It will enable former international students to stay in Canada and continue to look for work. Unlike employer-specific work permits, where a foreign worker is bound to a single employer in Canada, open work permits allow foreign nationals to work for any employer they choose...."


Canada Immigration News: PGWP holders can now submit applications for new open work permits.

https://www.cicnews.com/2021/01/pgwp-holders-can-now-submit-applications-for-new-open-work-permits-0116991.html

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