Foreign Credential Recognition Loans Pilot

Great news for skilled newcomers arriving in Canada! On February 22nd, Minister of Human Resources and Skills Development Canada introduced the Foreign Credential Recognition Loans Pilot, a 3- year initiative to help have trained and skilled professionals have their qualifications recognized in Canada. “Our government’s top priority is job creation and economic growth,” said Minister Finley. “In the Economic Action Plan, we made a commitment to help internationally trained professionals cover the costs of having their credentials recognized. Today we are delivering on that commitment.”

This relieves a huge gap for skills newcomers to Canada, who receive permanent residency based on their qualifications, yet cannot find jobs that are related to the very skills that approved them for PR and are needed in the country.

Here are some figures. The Longitudinal Survey of immigrants to Canada (LSIC) data, published in 2005 by the Minister of Industry, provides information specific to skilled immigrants and their intended occupations. Of the 57,600 immigrants entering as skilled principal applicants under the economic class, 22,000 intended to find skilled work in natural and applied sciences. However, after six months, only 12,900 were employed. 38% were in their intended occupation, while 62% were in lower skilled occupations, such as clerical and technical positions in natural and applied sciences; in sales and service positions, or in manufacturing (Minister of Industry, 2005).

Although there are many reasons why newcomers may not find themselves in a position that is not relevant or lower than their previous experience, providing recognition support is critical and will only aid in their individual success and our society as a whole.