Abstract

The focus of this study is on the financial sector, and it asks two questions: a) what are financial institutions currently doing in terms of assisting in the labour market integration of newcomers? and b) where are the opportunities for improvement within the financial sector with respect to the employment of immigrants? The study examines current achievements regarding the sector’s successful labour market integration of immigrants, opportunities for improvement, and recommendations as to how the financial sector can become a leader in this domain as well as the benefits of doing so. Some key findings are that there is a gap in terms of the successful integration and inclusion of immigrants in the labour market despite recognition of the business case for diversity. Ingrained biases and beliefs persist, and the communication patterns and ‘rigid’ history of the financial sector are not maturing at the same pace as the global economy.

Highlights

  • One of the most pertinent questions in the challenge of successful labour market integration for immigrants to Canada is ‘in whose hands does the responsibility lie?’ This paper proposes that while the burden currently rests in the hands of the individual immigrant, it is in the best interest of society for the private sector to assume more responsibility in this role

  • The focus of this study is on the financial sector, and it asks the following two questions: a) what are financial institutions currently doing in terms of assisting in the labour market integration of newcomers? and b) where are the opportunities for improvement within the financial sector with respect to the employment of immigrants? The study examines current achievements regarding the sector’s successful labour market integration of immigrants, as well as opportunities for improvement and recommendations as to how the financial sector can become a leader in this domain, and why the sector will benefit from undertaking this responsibility

  • The goal of this study is to evaluate the role that the financial sector in particular plays in lessening or increasing the burden of the survival job phenomenon for immigrants to Canada

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Summary

A CASE SUDY OF THE CANADIAN FINANCIAL SECTOR by

Laura Caroline Burke International Baccalaureate, Mahindra United World College of India, 2002. Honours BA, University of Toronto, 2006 A Major Research Paper presented to Ryerson University in partial fulfilment of the requirements for the degree of Master of Arts In the Program of Immigration and Settlement Studies Toronto, Ontario, Canada, 2008

Section Five Opportunities for Improvement
Findings
Section Six Best Practices and Recommendations

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