Youth Unemployment: Some Perspective, Please
Every once in awhile, you’ll hear folks talking about the scourge of youth unemployment. If you’re really lucky, you’ll hear them describe it as a “crisis”. But how bad is youth unemployment, really? Well, the quick answer is that you can’t really separate youth unemployment from general unemployment. As Figure 1 shows, one is a function of the other. Figure 1: Youth Unemployment Rates, 15 and Over vs. 15-24 Age Groups, Canada, 1976-2015 (Source: CANSIM 282-001. Seasonlly-Adjusted)