Unemployment rate for Canadian students surges to 20%, government urgently injects $25 million to subsidize positions!
The Statistics Canada released the May employment report last Friday, pointing out that students returning to school in the fall are facing a difficult job market.
The report shows that about one fifth of the students aged 15 to 24 who are returning to school are unemployed. Apart from the pandemic period, the last time the student unemployment rate reached such a high level was in May 2009.
On the same day, the federal government announced the expansion of the "Canada Summer Jobs" program, providing more wage subsidies to businesses that hire young people for seasonal work.
The federal government said it plans to add an additional 6,000 positions on top of the 70,000 positions already available to participating businesses.
The Employment and Social Development Canada, which is responsible for the program, will allocate $25 million CAD through internal fund reallocation to support the new positions.
Minister of Employment Patty Hajdu stated in a media release that the goal of increasing positions aims to "address the urgent needs of young people in the current job market".
Statistics Canada pointed out that since 2022, the unemployment rate for returning students in May has been on an upward trend. In 2022, in a relatively tight job market, the unemployment rate for returning students exceeded 10%.
Original article: https://www.toutiao.com/article/1834668382230540/
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