The Missing Middle with Mike Moffatt and Sabrina Maddeaux Where DID All the Jobs Go? The Mystery of Rising Unemployment.
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May 14, 2025 The discussion dives into the troubling job market for young Canadians, especially new graduates struggling with rising unemployment. It examines the limitations of traditional unemployment metrics, shedding light on the often-overlooked realities faced by those aged 15 to 29. The crisis in Ontario is particularly alarming, with social and political implications for youth engagement. Finally, the conversation highlights the relationship between higher education choices and economic stability, proposing solutions to combat youth unemployment.
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Young Workers Face Weak Job Market
- Canada's economy never fully recovered from the pandemic, affecting job growth and investments.
- Young people face a surge in labor supply but weak demand, causing a harsh job market especially for those aged 15 to 29.
Unemployment Rate Underestimates Youth Joblessness
- Unemployment rate excludes discouraged workers and full-time students, underestimating true joblessness.
- Economists use multiple metrics like employment rate and NEET to better capture youth employment struggles.
Ontario's Unique Unemployment Challenges
- Ontario's high youth unemployment is due to population growth from international students and weak sectors like condo construction and manufacturing.
- Regional differences in economy and industries cause varied unemployment rates across Canada.