Aug 8, 07:24 PM

Canadian Youth Employment Rate Falls to 27-Year Low

Canada’s labour market weakened markedly for young workers last month, with those aged 15 to 24 shedding 34,000 jobs. The group’s employment rate fell to 53.6%, its lowest level since November 1998 outside the COVID-19 period, according to figures cited by several economic monitors on Friday. The national youth unemployment rate climbed to 14.6%. Regional disparities were pronounced: Alberta’s youth jobless rate reached 20%, while Ontario’s rose to 16%. The deterioration adds to concerns about slack forming in the broader labour market as recent graduates and other young entrants struggle to secure work, a shift that economists warn could weigh on consumer spending and delay household formation.

#Canada #Alberta #Ontario

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Canadian Youth Employment Rate Falls to 27-Year Low

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