ZanyBrown

Consider the following two isolated news snippets on March19, 2009:

1. A study by the Federation of Canadian Municipalities reveals that recent immigrants to Canada who are between the ages of 25 and 54 are twice as likely to have a university degree as other Canadians though four times more likely to be unemployed than other Canadians. University-trained immigrants had an unemployment rate of about 12.1 per cent. By comparison, the unemployment rate among university-trained non-immigrant Canadians was three per cent.

It is reported that the government of Canada proposes spending $68 million over five years to speed up the recognition of foreign credentials in order to get educated immigrants into the workforce faster.

2. As on the morning of March19, 2008, the Canadian dollar started to spread its wings once again, partly as a result of the falling US dollar. However, since Canada is essentially a ‘commodities- based- economy’ the refection of the marginal hike in prices of crude oil and gold is obvious. This has been confirmed by RBC Capital analyst George Davis says the Canadian dollar is showing signs of soaring upward because of the American dollar’s weakness against most other currencies and because of a spike in oil and gold prices. Gold futures contracts were up more than $66 to US$955 an ounce and crude oil futures were up $3.88 to US$52.02 a barrel in New York in early trading on March19, 2009.  Earlier in the day, the Canadian dollar briefly rose above 82 cents US for the first time since early February. Not that a strengthening Canadian dollar is good for the economy.  When the Canadian dollar rose to $1.07 U.S. at its peak there were market rumblings because Canadian exports had become cheaper. A Canadian dollar that is valued at 85 US cents is considered to be the ideal for the Canadian economy.  But let us not forget that when the Canadian dollar was the equivalent of 65 cents U.S. American enterprises rushed to Canada to set up industrial plants because it was an attractive proposition to produce in Canada. We also need to keep an eye on anything that generates jobs.

My predictions for the Canadian economy and job situation for prospective immigrants are as follows:

1. Canada’s economy will slowly improve for the remaining part of 2009, in part, due to the weakness of the American dollar and also in view of the predicted increase in the price of crude oil and gold. Provinces like Alberta may see a revival of fortunes in and around Fort McMurray such that jingle of loonies in giant vats will resound as far as Ottawa. Like the sudden, unexpected spike in the purchase of new cars in the first two months of 2009, there ought to be an increase in the number of first time buyers for housing and that will hopefully spur up the economy.

2.Many potential immigrants who recently obtained their immigrant visas to Canada- including some of who were sitting on the fence (concerned about the state of the Canadian employment market)- will now take the plunge and head for Canada.

During mid- January to the end of February 2009 I travelled to many towns and cities in central and south India. The only word I can only find to describe India is “boxed-in.” Not all the Information technology related economic progress and the 9% national growth in GDP can compensate for the disparity between the rich and the poor-and the consequent ” Slumdog Millionaire” effect that reflects India in poor light. Sooner or later money too is not going to compensate.

Taking a bold step and immigrating to Canada requires guts.That is reserved for the adventurous among us.