New refugees to Canada are more successful breaking into the job market when sponsored by private community groups rather than by the government, a finding that takes on added importance as the nation welcomes tens of thousands of Syrian migrants.
Refugees sponsored for a year by a community organization such as a church or a group of private individuals earned C$18,300 (US$13,934) in the 2014 tax year compared with C$13,300 for those who had government support, based on the median estimate of arrivals over the prior five years, according to Statistics Canada data.
People who fled to Canada without sponsorship earned C$22,000. The agency does not normally provide an analysis of the data it releases.
The review of tax filings from Ottawa by the federal statistics agency published on Monday showed the highest earners of all immigrants were those who came to Canada for work and were later given permanent resident status. The median earnings in that category were C$50,000.
Canadian Prime Minister Justin Trudeau’s Liberal Party won power about a year ago in part on a pledge to boost immigration from Syria. Since then he has rejected a recommendation by a council of economic advisers to boost annual immigration levels (from all origins) to 450,000, saying the policy has to be ambitious but also “responsible.”
Almost 36,400 Syrian refugees have come to Canada since November last year, with the majority being the 19,300 sponsored by the government, according to a government tally through Dec. 4.
Canada’s government assists some refugees referred by the UN. Groups of five adults and other community organizations are also allowed to seek permission to bring people to Canada.
The US has considered adopting Canada’s private sponsorship model, while supporting refugees through federally contracted resettlement agencies that help the newly arrived integrate in the local economy with an early financial boost and other assistance.
The US admitted 85,000 refugees this fiscal year, including about 12,600 from Syria. Nations such as Germany and Turkey have called on others to take in more people displaced by Syria’s five-year civil war.
Shares of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure yesterday after a report that Apple Inc is looking to shift some orders from the Taiwanese company to Intel Corp. TSMC shares fell NT$55, or 2.4 percent, to close at NT$2,235 on the local main board, Taiwan Stock Exchange data showed. Despite the losses, TSMC is expected to continue to benefit from sound fundamentals, as it maintains a lead over its peers in high-end process development, analysts said. “The selling was a knee-jerk reaction to an Intel-Apple report over the weekend,” Mega International Investment Services Corp (兆豐國際投顧) analyst Alex Huang
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain Apple Inc’s primary chip manufacturing partner despite reports that Apple could shift some orders to Intel Corp, industry experts said yesterday. The comments came after The Wall Street Journal reported on Friday that Apple and Intel had reached a preliminary agreement following more than a year of negotiations for Intel to manufacture some chips for Apple devices. Taiwan Institute of Economic Research (台灣經濟研究院) economist Arisa Liu (劉佩真) said TSMC’s advanced packaging technologies, including integrated fan-out and chip-on-wafer-on-substrate, remain critical to the performance of Apple’s A-series and M-series chips. She said Intel and Samsung
TRANSITION: With the closure, the company would reorganize its Taiwanese unit to a sales and service-focused model, Bridgestone said Bridgestone Corp yesterday announced it would cease manufacturing operations at its tire plant in Hsinchu County’s Hukou Township (湖口), affecting more than 500 workers. Bridgestone Taiwan Co (台灣普利司通) said in a statement that the decision was based on the Tokyo-based tire maker’s adjustments to its global operational strategy and long-term market development considerations. The Taiwanese unit would be reorganized as part of the closure, effective yesterday, and all related production activities would be concluded, the statement said. Under the plan, Bridgestone would continue to deepen its presence in the Taiwanese market, while transitioning to a sales and service-focused business model, it added. The Hsinchu
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
RSS