Statistics Canada’s labour numbers from July indicate that the country’s youth unemployment rate is continuing to climb, reaching numbers not seen since the 2008 recession.
While the country’s unemployment rate remained at 6.9 percent for that month, the rate among those aged 15 to 24 rose from 14.2 percent to 14.6 percent. This is the highest rate since 2010, barring the COVID-19 pandemic.
Canada saw employment fall by 41,000 jobs, but the decline was mainly concentrated among the youth, who saw 34,000 jobs lost. Meanwhile, employment among “core-aged” working Canadians between 25 and 54 changed very little.
The difficult situation facing Canada’s youth was highlighted at the recent Canadian National Exhibition in Toronto, which received a record of 54,000 online applications for just 5,000 seasonal positions….