US EditionYouth unemployment at recessionary levels, CIBC report finds
- The current youth unemployment rate is 14.6 percent, the highest since September 2010, according to Statistics Canada.
- Youth unemployment has risen by 5.5 percentage points since 2022, exceeding typical increases during economic downturns, according to CIBC analyst Andrew Grantham.
- Grantham noted that AI and labor-substituting technologies are likely impacting job opportunities for younger Canadians, affecting their employment negatively.
- Grantham suggests that the rise of artificial intelligence, impacting sectors like retail, has contributed to higher youth unemployment.
13 Articles
13 Articles
Radio-Canada
lechodelarivenord.caA new CIBC report indicates that the current youth unemployment rate is at levels generally observed in times of recession.
A new report indicates that the current youth unemployment rate is at levels generally observed in times of recession, although other age groups benefit from a more resilient labour market.
Youth unemployment at recessionary levels, CIBC report finds - MoneySense
A new report says the current youth unemployment rate is at levels typically only seen during recessions, even as other age groups face a more resilient labour market. CIBC analyst Andrew Grantham says the rise in unemployment among those aged 15 to 24 has gone above and beyond what the current economic backdrop would suggest. He says the youth jobless rate typically rises about four percentage points during periods of weakness, which is higher …
TORONTO — A new report indicates that the current youth unemployment rate is at levels generally observed in times of recession, although other age groups benefit from a more resilient labour market. Andrew Grantham, an analyst at CIBC, states that the rise in unemployment among the 15-24 age group has exceeded what the current economic context would suggest. He points out that the youth unemployment rate is generally increasing by about four pe…
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