New Grads vs. the Tough Job Market: Turning a Crisis into Opportunity
As per a recent report from CBC Business, Canada’s Gen Z is entering one of the most difficult job markets in decades, facing youth unemployment levels not seen since the mid-1990s, aside from the pandemic years. After a brief hiring surge post-COVID, driven by businesses racing to fill roles and a short-term economic rebound, the labour market has cooled dramatically. Rising inflation in 2021 led to aggressive interest rate hikes, which in turn reduced consumer spending and made businesses hesitant to hire. Although higher immigration was introduced to address labour shortages, the resulting population growth has outpaced job creation, intensifying competition for limited roles—especially for young job seekers. Many entry-level opportunities appear to be shrinking, potentially due to automation and older workers taking on additional jobs during the affordability crisis. As a result, the NEET (Not in Education, Employment, or Training) rate among early 20s youth is climbing. Stud...