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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: Canada Tightens Temporary Foreign Worker Rules
MNI (OTTAWA) - Canada is tightening rules on its temporary foreign worker program, responding to criticism around worsening housing shortages and bypassing domestic workers at a time of rising unemployment.
Employment Minister Randy Boissonnault said in a statement Monday the program will no longer accept low-wag candidates in most industries in cities where unemployment is 6% or higher. Firms will be capped at having 10% of their workforce drawn from the TFW program, and low-wage workers can stay for just one year instead of the previous two years. Record immigration has come with unemployment rising by a percentage point over the last year and led the Bank of Canada to reassess its view of the economy's potential, with officials saying there's some evidence the influx further stretched the housing market. (See: MNI INTERVIEW: Canada Condo Dip Seen On Migrant Turn-Adviser)
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.