Good morning Ms. Teetaert and fellow classmates, due to our
limited number of classes last week, there’s really only one thing that I’m
here to talk to you about today. We learned about full-employment GDP. I’d like
to first recap on what was learned in class last week and I will later on
explain further. We learned that a certain level of aggregate demand in the
economy is required so that everyone that wants to work is able to. In other
words, in order for there to be a sufficient number of jobs for those who want
jobs and are qualified for those jobs, there is a certain level of demand
required for a certain good or service. If not every individual is able to
work, then there is a remainder of land and equipment that cannot reach it’s
full potential, and some workers remain unemployed. Considering the fact that
full employment is desired, we need to get the demand of a good or service to
increase so that we can supply a good or service by hiring more people. The
amount demanded must increase by a certain number, being what is called the recessionary
gap.
Now upon further research, and trying to relate it all back to what's happening in current events, I found an article that brought up the issue of temporary foreign workers. This article from CBC specifically focuses on one certain individual, but I found this relevant to representing the rest of the foreign workers that are being forced out of the country. This article informs us about the thousands of Albertans who's work permits will be expiring on the first of April. Once April 1st hits, those who have been employed for 4 years here in Canada will either have to be taking steps towards becoming full citizens or they must be making efforts to go back to their home country. Another option for these people has been offered by the Alberta Immigrant Nominee Program which will overlook paperwork and take into consideration each applicants credentials, from there, 1 thousand people will have their permit extended for another year. Now only is this newly changed law affecting employees, but employers as well. Employers all over Alberta are still trying to figure out a solution for the loss of employees that they've come to rely so heavily on for the past few years.
Now you may all be wondering how this relates back to our Economics classes last week, but due to the loss of workers, full employment can no longer be an indicator of the amount of goods and services that are produced. We are no longer reaching full potential or what is considered most efficient for production. There is a lack of workers in the chain, and therefore there is a decrease in production that does not fulfill the demands of the consumers, businesses or the government in the economy.
Temporary Foreign Workers
Works Cited
"4 Tips For Hiring Great Temporary Employees - Blogging4Jobs."Blogging4Jobs. N.p., 02 June 2013. Web. 15 Mar. 2015.
Stewart, Briar. "Temporary Foreign Workers Pin Hopes on April 1 Reprieve."CBCnews. CBC/Radio Canada, 13 Mar. 2015. Web. 13 Mar. 2015.
