Canada’s Job Market Crisis: Young Graduates Struggle as Opportunities Dry Up

Canada is currently grappling with its most challenging job market in decades, particularly affecting young workers and recent graduates. The unemployment rate for postsecondary graduates under 25 has surged to 11.2% in early 2025, marking the highest level in over twenty years, excluding the pandemic period .@EconomicTimes

This economic downturn is exemplified by the experience of Emmersen Lashley, a 19-year-old political science student at Queen's University. Despite submitting over 90 job applications across various sectors, including retail and service industries, over the past two summers, she has not received a single job offer. This lack of employment opportunities is hindering her ability to save money and plan for future goals such as establishing a career and homeownership .@EconomicTimes

Economists attribute this bleak employment landscape to several factors, including economic headwinds and trade tensions, notably between Canada and the United States. These challenges are not only causing immediate employment difficulties but also pose long-term financial implications for young Canadians, potentially affecting their savings and career progression .@EconomicTimes

Financial experts emphasize the importance of early career employment for long-term financial stability. Desmond Nwaerondu, a certified financial planner at Sun Life, notes that time spent out of the workforce can significantly impact one's ability to save for retirement, necessitating increased savings later in life to achieve similar financial goals .@EconomicTimes+4@EconomicTimes+4@EconomicTimes+4

The current state of Canada's job market underscores the need for targeted policy interventions to support young workers and stimulate job creation. Addressing these challenges is crucial to prevent long-term economic repercussions and to ensure that the younger generation can achieve financial security and career fulfillment.@EconomicTimes