Youth Unemployment Hits 15% in Canada
The sharp increase marks a steady upward trend since 2022, with young men facing the highest rates
New employment data for July suggests the Canadian unemployment rate is ticking up once again, while young Canadians are getting hit particularly hard.
The latest job numbers suggest the unemployment rate in Canada now sits at 7.2% among all Canadians over the age of 15. That rate is slightly higher among women than men, at 7.3% compared to 7.1%.
At 7.2%, the unemployment rate is much higher than it was just three years ago in July 2022, when it stood at 5.2%. Given a sluggish economy and an ongoing trade war with the United States, it is expected that the unemployment rate will continue to tick up as time goes on.
However, the group getting hit the hardest by unemployment are those seeking to enter the job market for the first time. As of July, the youth unemployment rate finished at 15.1%. While this is not the highest it has been, it represents a continual upward trend.
For context, back in July 2022, youth unemployment sat at 10%, notably lower than it is today. The current unemployment rate among young Canadians is higher among young men at 15.9% than among young women at 14.1%.
Let’s take a look at how the rest of the workforce is doing, and which industries are getting hit the hardest this summer.
