This translation has been automatically generated and has not been verified for accuracy.A 42-per-cent unemployment rate is a hell of a way for young adults to begin their summer.
Parents of the country, we are very likely to see a replay in the months ahead of the boomerang phenomenon that emerged after the 2008-09 global financial crisis. Young adults who moved out may have to return home or rely on parental financial help. As part of its broad support for the economy during the pandemic, the federal government is paying a Canada Emergency Student Benefit of $1,250 per four-week period for May through August. Setting a move-home date no later than Sept. 1 for an unemployed student or recent grad makes sense. Book a truck now and avoid the rush.
These measures are helpful, but delaying the repayment of student debt creates the potential for a cascade of negative effects. For example, it takes longer to build up critical mass in an emergency fund if you’ve got student debt payments to make each month. We’ve seen in the pandemic how essential it is to have savings available in case you lose your job or your income is interrupted.
Globe_Careers Adult. Children Pick one
Globe_Careers Well isn’t that some b.s. try to hide your disdain for millenials, it’s infuriating.
Globe_Careers Aren’t they adults? Isn’t that the point?
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