Hub Podcasts The Bank of Canada hit pause. Don’t expect a rescue
Jun 5, 2025
Highlighting the urgent need for local hiring, the discussion addresses high youth unemployment in Canada and warns against reliance on temporary foreign workers. It advocates for reforming immigration and business practices to benefit local employment. Additionally, the podcast delves into the complicated trade relationship with the U.S., analyzing recent legal challenges to Trump's tariffs and their effects on Canadian exporters. Tune in for insightful commentary on these pressing issues!
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Immigration Pressure on Canadian Labor
- Canada's labor market faces pressure from over 817,000 newcomers entering various streams in early 2025.
- This surge, including high temporary foreign worker permits, risks wage suppression and job displacement for Canadians.
Prioritize Hiring Canadians
- Businesses should avoid over-reliance on temporary foreign workers and prioritize hiring Canadians.
- Immigration reform and corporate responsibility are crucial to support Canada's working-age population.
Ongoing US Tariff Pressures
- Despite legal challenges, Trump's tariffs on Canadian steel and aluminum persist and may even increase.
- This creates ongoing trade tension, complicating economic relations and deal-making efforts with Canada.