Monday, March 12, 2012

Jobs recovery for young 'almost non-existent'

Canada’s youngest job seekers, who have taken the biggest unemployment hit since the recession began, face challenging job prospects “for several more years,” an analysis by TD Economics suggests.

The report comes a day ahead of Canada's unemployment figures for February, with most analysts expecting the jobless rate to stay unchanged at 7.6 per cent.

Economist Francis Fong suggests the economic recovery has been “almost non-existent” for Canadians aged from 15 to 24.

While they accounted for more than half of all net job losses during the 2008-09 recession, employment in that age bracket still stands some 250,000 below its peak before the downturn.

In contrast, the number of jobs for those over the age of 25 has grown by more than 400,000 above the level before the downturn. Read More

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