But there is another side to the story. By contrast, those with less education and fewer marketable skills are facing either unemployment or low wages and insecure forms of work. The unemployment rate in Canada remains near 10 per cent, and poverty has grown substantially in recent years despite the positive financial data that has sent Canadian stock markets skyward. Nowhere has the growth of unemployment and poverty been more widespread than among younger Canadians. This disturbing trend is also reflected in the much-reported fact that one in five children now live in poverty 45 per cent more than in 1989, the year Parliament unanimously pledged to eradicate child poverty by the year 2000.
Youth unemployment is also on the rise.
Over 16 per cent of youth are currently unable to find work. The divide between younger and older workers is reflective of a longer term trend. Young people with lower levels of education have experienced the greatest difficulties finding work throughout this period. Another disturbing trend has been the drop in the labour force participation rates of youth. This trend speaks to the difficult labour market conditions faced by youth, as more and more young people have become discouraged by their unsuccessful search for work.