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Now that I can see the linked stats, I find those nrubems irrelevant to the discussion it would be more useful to see the year to year nrubems over the last n years, with n>5. I will be interested to see next year’s nrubems. Presumably they should significantly increase as the apparently extra-large number of 2009 Fellows finish their grants.It seems the key number is the one NSERC omitted: the amount reassigned to the industrial postdocs and CREATE. It is indeed an unfortunate fact that most recent PhDs will be unable to find an academic job and so the goal of connecting them to industry is, on the surface, laudable. However 1) As I alluded to in a previous comment, this is strictly impossible for all but an epsilon>0 proportion of researchers, especially in mathematics. I imagine this true for many other fields as well. I hope that if the budget for the Industrial R&D program is not used up, then the leftover money is put back into the scholarship and fellowship programs.2) I was going to make an overlong point about what is, in my opinion, a lack of understanding by NSERC of the role of research-level science and mathematics within the economy, but coincidentally Philip Hultin essentially just did so in a comment to this post:

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