Toronto – August 18, 2015 – With an ever-changing economic landscape and rates of unemployment and underemployment significantly above levels prior to the 2008 recession, young people are among the biggest victims of the stumbling economic recovery. At the same time as their income prospects have fallen, many young people are also facing higher tuition and living costs during their
• 4.4 million
Described as an "echo baby boom", there are approximately 4.4 million people living in Canada between the ages of 15 to 24.
According to Statistics Canada's July 2015 Labour Force Survey, the youth unemployment rate was 13.2%, nearly double rate for workers 25 to 65 years-of-age.
According to a 2013 study, the unemployment rate in Toronto for young workers was 43.5% – the worst unemployment rate of any Ontario region.
The average debt students in Canada after graduation from post-secondary institutions.
• $15 billion
The accumulated federal student-loan debt in Canada.
During the 2008 recession, young Canadians (ages 15-24) accounted for over 50% of net job losses.
The cost the Harper government paid in order to air one commercial promoting "Canada's Economic Action Plan" during the NHL playoffs in 2013. For the same money, 32 summer jobs could have been created.
With rising real estate prices in Canada, and weak job prospects for many young adults, nearly half of all Canadians under 30 still live in their parent's home – up 15% from 1981.
The average amount a current student will spend living away from home during the course of their studies.
Sources: Broadbent Institute, 2014. Canada needs an action plan to fight long-term youth unemployment. Canadian Centre for Policy Alternatives, 2013. The Young and the Jobless. CBC, 2014. Average student debt difficult to pay off, delays life milestones. Canadian Federation of Students, 2015. The Impact of Student Debt.Global News. For young Canadians, labour market as bad as during the recession.