TSX:AX.PR.E - Post by User
Post by
Torontojayon Dec 14, 2024 12:01pm
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Post# 36362459
Canada is likely fudging labour data
Canada is likely fudging labour data Ben Robidoux , the founder of North Cove advisors and author of Canadian Macro and housing newsletter believes private sector labour data is being fudged using government stamped LMIA documents. The Labour Market Impact Assessment (LMIA) gives employers permission to hire a non permanent resident which works towards their goal (employee) of becoming a full time resident of Canada. What's the scam? That these documents have a face value in the secondary market which could then be sold to an agency for each non permanent worker even though the job never gets filled. The job gets reported in the official government statistics and the employer gets paid even though the job is never really filled. In order to get permanent status, a person from say, India, has to show that they have employment and they are willing to pay the face value of these LMIA documents to increase their chances of permanent status.
Only under the leadership of Justin Trudeau could such a scam take place. I believe they are hiding a lot about the state of our economy. The government is also lying about the labour force participation rate of Canadians. By showing that less people are in the labour force they can reduce the unemployment rate. Not to mention the private sector data that is being manipulated for profit and corruption.