Canada’s Youth / The unemployment rate doubles the average and there is no job economic recovery

Young people today face an extremely challenging labour market. The unemployment rate for those aged 15 to 24 is double that of the national average and job gains since the economic recovery began have been nearly non-existent. Job numbers released by Statistics Canada last week revealed Canadian youths lost 45,600 jobs in July, bringing the youth unemployment rate to 13.9%. Of the almost 1 million jobs created in Canada since 2009, just 56,000 (0.5%) have gone to youths — an age demographic that accounts for 15% of the labour force.

Even among those who have beaten the odds, one still has to wonder about the prevalence of underemployment, especially among new graduates. Studies suggest those who graduate during recessionary periods earn significantly less than those who obtained their degrees during times of greater economic prosperity. It can take decades to close the gap. This “scarring” effect is not welcome news for those that have pursued post-secondary degrees with the hope of working in a specific field only to end up in a survival job.

Solving this problem, however, is no easy task.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Three steps toward correcting youth un(der)employment.