“There was a time when a university degree assured you of a
good job, good pay and a comfortable life. Not anymore. Today, the unemployment
rate for young people in this country is close to 15% - double that of the
general population. But the real crisis is the increasing number of university
and college grads who are underemployed – scraping by on low-paid, part time
jobs that don’t require a degree. Although there are no official statistics in
Canada, it’s estimated that after graduating, one in three 25 to 29 year olds
with a college or university degree ends up in a low skilled job. And to make
things worse, 60% graduate with an average debt of $27,000.00 Mired in debt,
and working in dead end jobs, their launch into adulthood is being curtailed.
Some call them “the lost generation”. But, it’s not only young people who may
be lost. If the next generation fails to gain a toehold into the economy ,
who’ll buy boomer’s houses? Who’ll pay
for social programs? Youth unemployment and underemployment is a ticking time
bomb with serious consequences for everyone.
The reality is that today’s twenty-something’s are entering
an economy in the throes of a seismic shift where globalization and technology
are transforming the workplace. Automation is replacing tens of thousands of
jobs at a time. Companies fixated on the bottom line are outsourcing jobs and
wherever possible getting computers to do the work. Employers are placing a
higher premium on experienced workers, unwilling to invest in training new
entrants to the workforce. So, young people are caught in a catch 22. How do
you get experience if no one will hire you without it? Many are working for
free as unpaid interns, just to try and get their foot in the door. And, for
the first time in history youth are facing another unique challenge –
competition with their parent’s generation for the small pool of jobs that do
exist.
By all accounts the problem is only going to get worse.
Especially since the key players in Canada – universities, employers and
governments – are not working together to find a solution. Canada is the only
country in the world without a national body responsible for education and is
seen as one of the most decentralized and fragmented countries in the world
when it comes to helping young people make a smooth entry in to the world of
work.”
More Information: http://www.cbc.ca/doczone/episode/generation-jobless.html
