The unemployment rate is currently around 4.5%. Given that the unemployment rate is so low, but the participation rate is high—I would even say historically high—we are witnessing a perfect storm. Someone used that expression earlier, and it is an extremely appropriate image. We are currently in a situation of full employment.
Unfortunately, if we are unable to expand the pool of workers, we will not be able to deal with the current situation. Indeed, employment insurance recipients and youth who are not in employment, education or training, referred to as individuals who are NEET, will not be enough to address it. We must therefore be able to expand the pool of workers. In that context, experienced workers and other individuals are part of the solution.
It will not be possible to get all employment insurance recipients in the workforce. However, the employment insurance system should adopt a continuing education program. That way, the members of society would be better trained. A society that is better trained and more skilled is a richer society collectively and individually.