The Financial Post reports in its Wednesday, March 27, edition that the Canadian Chamber of Commerce says Ottawa's proposal to limit the number of temporary foreign residents could hurt the economy. The Post's Naimul Karim writes that some economists, however, argue that the move could help the economy. There are about 600,000 job vacancies across the country with the restaurant, agriculture, tourism and manufacturing sectors bearing the brunt of the labour crunch, the Chamber's senior director Diana Palmerin-Velasco said. She said: "Businesses are very concerned. They don't know how they are going to operate on a daily basis. We have some sectors of our economy that even before the pandemic faced chronic labour shortages and in some cases the pandemic made it worse. We haven't recovered from that." RBC economist Robert Hogue says that while businesses in some sectors may face challenges as a result of the caps, the number of unemployed people in Canada is rising and the labour pressure is not as acute as it used to be. Bank of Nova Scotia economist Rebekah Young says that aside from the caps, the government is expected to rely more on temporary residents to select its permanent residents through domestic draws.
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