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“Youth have seen their employment decline since December of 2022,” says RBC economist Carrie Freestone, who co-authored the report. “In 2008, roughly 10 per cent of the uptick in unemployment could be explained by students and new grads, and now it’s 50 per cent.” Making matters worse for young people, according to Ms. Freestone, is the fact that those industries most affected by the slowdown in consumer spending — such as retail, hospitality and food services — are typically among the largest employers of young people.
According to a recent survey conducted by recruiting firm Robert Half Canada, demand for entry-level professionals is strongest among administrative and customer support roles, followed by the legal, marketing, human resources, technology and finance sectors. Youth unemployment had been trending downward since the 2008 recession, from a high of 16 per cent in 2009 to a low of less than 10 per cent in early 2020, until the pandemic sent youth unemployment skyrocketing to a record 30 per cent that May. By the summer of 2022, however, it dropped to an all-time low of 9.3 per cent. According to the latest data from Statistics Canada, youth unemployment is trending upward again, reaching 12.
Belgique Dernières Nouvelles, Belgique Actualités
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