Canadian Government Introduces Measures to Support Job Security
On October 22, 2024, the Canadian government announced several measures aimed at protecting and creating jobs for Canadian workers. The announcement was made by Deputy Prime Minister Chrystia Freeland, along with other ministers.
Key measures include:
- Tariffs on Imports: A 25% tariff has been imposed on certain Chinese-made steel and aluminum products. This action is intended to protect Canadian workers from what the government describes as unfair trade practices by China.
- Temporary Foreign Worker Program Reforms: Changes to the program include raising the hourly wage criteria for the high-wage stream to 20% above the median hourly wage, effective November 8, 2024. This aims to ensure fair wages for Canadian workers and reduce reliance on foreign workers.
- Artificial Intelligence Initiatives: The government is launching a $200 million Regional Artificial Intelligence Initiative as part of a larger $2.4 billion AI package. This initiative is designed to support AI start-ups and encourage AI adoption across various sectors.
These measures are part of the government's broader economic strategy to enhance job security and wage growth for Canadian workers.