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.
HANDOVER POLICY: Approving the probe means that the new US administration of Donald Trump is likely to have the option to impose trade restrictions on China US President Joe Biden’s administration is set to initiate a trade investigation into Chinese semiconductors in the coming days as part of a push to reduce reliance on a technology that US officials believe poses national security risks. The probe could result in tariffs or other measures to restrict imports on older-model semiconductors and the products containing them, including medical devices, vehicles, smartphones and weaponry, people familiar with the matter said. The investigation examining so-called foundational chips could take months to conclude, meaning that any reaction to the findings would be left to the discretion of US president-elect Donald Trump’s incoming team. Biden
INVESTMENT: Jun Seki, chief strategy officer for Hon Hai’s EV arm, and his team are currently in talks in France with Renault, Nissan’s 36 percent shareholder Hon Hai Precision Industry Co (鴻海精密), the iPhone maker known as Foxconn Technology Group (富士康科技集團) internationally, is in talks with Nissan Motor Co’s biggest shareholder Renault SA about its willingness to sell its shares in the Japanese automaker, the Central News Agency (CNA) said, citing people it did not identify. Nissan and fellow Japanese automaker, Honda Motor Co, are exploring a merger that would create a rival to Toyota Motor Corp in Japan and better position the combined company to face competitive challenges around the world, people familiar with the matter said on Wednesday. However, one potential spanner in the works is
HON HAI LURKS: The ‘Nikkei’ reported that Foxconn’s interest in Nissan accelerated the Honda-merger effort out of fears it might be taken over by the Taiwanese firm Nissan Motor Co has become the latest buyout target in Japan as it explores a merger with Honda Motor Co and faces an overture from Hon Hai Precision Industry Co (鴻海精密), known as Foxconn Technology Group (富士康科技集團) internationally. Shares in Nissan yesterday jumped 24 percent, the most on record, to hit the daily limit, after the two Japanese automakers acknowledged that talks are ongoing to better position themselves for competitive challenges during a time of upheaval in the global auto industry. Foxconn — a Taipei-based manufacturer of iPhones, which has been investing heavily in factories to build electric vehicles — has also
CHIP SUBSIDY: The US funding would help alleviate the financial pressure from building two fabs in the US and should lift gross margins in 2026, the company said GlobalWafers Co (環球晶圓), the world’s third-largest silicon wafer supplier, yesterday said it is to receive US$406 million in subsidies from the US Department of Commerce for two new US fabs under the CHIPS and Science Act, with the first batch of the funds likely coming next year. The grant represents 10 percent of the planned investments of US$4 billion in advanced semiconductor wafer manufacturing facilities in Texas and Missouri, GlobalWafers said. The commerce department is to disburse the funds based on the completion of project milestones over a multiyear timeframe, the company said. Along with the tax credit, which is equal to