Reports from various sources have confirmed that the Canadian economy must seem to be booming, but unfortunately, Lack of skilled labor posing a serious threat to the Canadian economy as the number of Skilled labor is decreasing hence the productivity of the work is declining.
Lack of skilled labor posing a serious threat to the Canadian economy-As the Graduates lack the basic Aptitude-
The Higher Education Quality Council of Ontario has observed that the graduates of Ontario lack the essential reading and mathematics ability and aptitude which is fundamental to find a good job and pursue a successful career. Lack of labor is a story of 40% of Canada not only Ontario. What is more disturbing is that one cannot ignore the fact that if an employee lacks the necessary aptitude, he will not do any good for the company and will not be able to think of any new and bright ideas. Moreover, he won’t be able to keep pace with the changes in today’s technology and improvements.
To improve the situation Finance Minister of Canada is focussing on Skill Training Programs-
Adding to the chaos is Bill Monreau’s (the finance minister of Canada) latest idea of putting particular emphasis on skills training for the upcoming budget of 2019. Skill training might be a positive step because of the inability to read and write should not be a cause of fall for any economy.
PIAAC gives astonishing data showing Employers are Paying More Salaries to Hold Employees-
The Programme of International Assessment of Adult Competencies (PIAAC) has clearly shown that employers are ready to pay a more considerable amount of salary to those who are adequately skilled. More salaries indicate that the lack of skilled labor is forcing employers to do so. Also, the employers are forced to take some negative measures such as reducing the primary skill requirement needed for the job now as they can no longer keep job vacancy. It also adds to the pressure of higher workers who have to look into every minute detail of their junior workers personally. PIAAC has noted that 42% of Canadians lack the skills required by most of the vacant placements.
Summary-to improve the Canadian educational skills
Lack of skilled labor posing a serious threat to the Canadian economy needs to strengthen the Canadian educational skills so that the local student is more efficient and fulfill the basic requirements of any business infrastructure. The Canadian government also understands this and is working hard to minimize the gaps and hurdles to remain productive and at par with other global economies.