"To the youth, this budget was made for you, said Finance Minister Francois-Philippe Champagne during a speech on Tuesday before he tabled the budget in the House of Commons."
"There's very much a shift in terms of expectations of what someone's life is going to look like, and that is a huge challenge for young people, said Rob Gillezeau, an assistant professor of economic analysis and policy at the University of Toronto."
"Most recessions are relatively short in duration, but if this one is being driven by the Americans essentially having completely wild economic policy that appears intent on damaging our country, the economic harm can be much longer lasting," he said. "That'll have a disproportionate impact on young people."
Federal government plans target high youth unemployment with measures emphasizing work placements, creation of summer jobs for students, and expanded investments in skills training. Programs aim to ease youth entry into labour markets, particularly in trades and climate-related sectors. Economic pressures since the pandemic, including elevated inflation and higher cost of living, have compounded challenges. Rapid population growth among student-aged cohorts outpaced job creation until recently. Emerging risks from a bruising U.S. trade conflict and potential recession are causing layoffs and reduced hiring, which could inflict longer-lasting harm and disproportionately affect young people.
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