Details of Revised Federal Skilled Worker Program Released

osted on August 19, 2012

Skilled tradespersons in eligible vocations like construction work will be able to apply for Canadian permanent residence under the new Federal Skilled Trades Program (FSTP) (Paul Keheler)

Citizenship and Immigration Canada (CIC) unveiled information on Friday about the new Federal Skilled Worker Program (FSWP) that will be launched in the new year.

The revised program will have more demanding language requirements, more selective credential assessment, and will give preference to Canadian work experience over foreign work experience, among other changes.

CIC placed a temporary freeze on the acceptance of new applications for the FSWP on July 1st to give the immigration department time to instate change that it said were needed to address shortcomings in the program.

The following are the major changes to the FSWP that were announced in Friday’s release:

Increasing the maximum points awarded for proficiency in an official language, from 16 to 24 points
Awarding a maximum of 12 points to applicants aged 19 to 35, and decreasing the points awarded until age 46
Reducing the maximum number of points awarded for foreign work experience from 21 to 15
Eliminating points awarded for spousal education and awarding points for spousal language proficiency instead
Awarding a maximum of 10 points for Canadian work experience
Awarding points for foreign education credentials based on an assessment of the foreign credential’s equivalent value in Canada as assessed by an organization that is designated to provide credential assessment and authentication
New Federal Skilled Trades Worker Program

In addition to the changes to the FSWP, CIC also announced the details of a new Federal Skilled Trades Program (FSTP) that will be open to tradespersons skilled in eligible trade occupations.

The requirements announced for the FSTP are:

An offer of employment of a duration of least one year from up to two Canadian employers or a Certificate of Qualification from a provincial or territorial Apprenticeship Authority.
Proficiency in an official language
At least two years of work experience in an eligible skilled trade in the last five years
Required qualifications in the skill trade as described by the National Occupational Classification (NOC)
Changes to the Canadian Experience Class

As forecasted by CIC earlier in the year, the Canadian work experience required to qualify for the Canadian Experience Class (CEC) program will be reduced from 24 months to 12 months, to allow temporary foreign workers in Canada to more quickly qualify for Canadian permanent residence status.

Source: http://www.cicsnews.com/?cat=331

Is the Canadian economy in trouble?

By Kevin Press, BrighterLife.ca
June 20, 2012 Topics: Today's economy Comments (24)
“Conditions in the international financial system are fragile.” That is how the Bank of Canada chose to begin its latest Financial System Review, released on June 14. The report goes on to note that our domestic financial system “continues to be robust.” But that good news comes despite a host of risks to the system and to the Canadian economy, including the eurozone sovereign debt crisis, a slowdown in other advanced economies and potential trouble in the Canadian residential real estate market. Consistent with December’s report, the Bank says the risks facing the Canadian financial system are “high.”

I was in to see Sadiq Adatia, chief investment officer of Sun Life Global Investments, last week so I asked him what he thinks about the outlook for Canada. He wasn’t optimistic. After talking about his confidence in the U.S. recovery, he told me: “Canada is turning a corner too, but in the opposite direction.” We may not see gross domestic product growth above 2% this year.

Adatia sees five problems:

Household debt. “We’ve had a great run in our markets, fuelled by consumer spending,” Adatia told me. “Consumers have added a ton of debt to their balance sheets.” Indeed, we learned on June 15 that Canada’s household credit market debt (consumer credit, mortgage and loan debt), measured as a percentage of personal disposable income reached 152% in the first quarter of this year. That’s a new record. Actual borrowing has slowed, but income has too. According to the Bank of Montreal (BMO), the percentage of Canadian households with debt-service ratios above 40% of income – a level considered to be vulnerable by lenders – has risen over 6%. That’s “slightly above the past decade norm,” reports BMO.
Housing prices. Adatia thinks a double-digit drop in prices is possible. “We think there’s going to be a pullback across the board,” he said. “Some regions may be hit harder than others, but I think a 5%-to-15% drop is definitely in the cards.” That may be a conservative call. Across Canada, home prices are up 12% relative to where they were before the most recent recession.
Global factors. No surprise here: There’s trouble in Europe, a slowdown in China and the U.S. recovery (while it gives Adatia reason for optimism) remains vulnerable to global economic factors. These are all potential threats to Canada. By the way, Adatia does not believe there will be a hard landing in China.
Rising interest rates (eventually). Adatia doesn’t expect the Bank of Canada to move on rates this year, but they may start to come up in 2013: “Until we see a better resolution in the eurozone and a stronger U.S. economy, the Bank of Canada is not going to jump out too far ahead, particularly given that the U.S. Federal Reserve has already said it’s not going to raise rates until 2014.” When it happens, higher rates will dampen spending by a lot of highly indebted households.
Unemployment. “We’re probably going to see unemployment move up,” said Adatia. “I’m not convinced the employment picture is really as strong as it looks right now.” The four points listed above could each contribute to job losses.
Are we headed down a path similar to the one Americans took toward the end of the last decade? “These are the same things that were going on in the U.S. economy before it faltered,” Adatia told me. “We’re probably where the U.S. was a few years back.” Meanwhile, the U.S. housing market is showing signs of stabilization and according to the Federal Reserve Bank of New York, Americans have slashed their debt by about $100 billion since the fourth quarter of 2011.

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