New StatsCan figures show signs of growth in youth job market

November 14, 2014

New data from Statistics Canada indicates that Canadian young people are on pace for the biggest annual job increase in more than 10 years. Employment for Canadians aged 15–24 increased by a combined 47,400 in September and October, the second-highest 2-month total since 2006. Youth jobs made up 40% of the 117,200 net new jobs over that period, and have accounted for 71,000 of 201,000 new jobs in 2014. Nevertheless, the participation rate in the youth market fell from 65.2% in September to 64.7% in October; moreover, full-time employment fell by 0.4% as part-time employment rose 3.8%. Still, some economists are optimistic after seeing the figures. Youth are “definitely getting out of the basement. When you create 100,000 jobs in 2 months you use up some slack. As demand increases you’ll start to absorb these less skilled workers,” said John Clinkard, Chief Economist at Deutsche Bank Canada. Financial Post | StatsCan Daily