15-05-2025
Bad news for Mark Carney: Canada's job market is so weak that candidates aren't getting offers even after sending out 50 applications
Synopsis Canada's young workers are facing a challenging job market, with postsecondary graduates experiencing an unemployment rate of 11.2% in early 2025, the highest in over two decades. Emmersen Lashley's experience of submitting numerous applications without success reflects this struggle. Economists warn that this economic downturn could have long-term financial consequences, impacting savings and career growth for young Canadians. Canada's young workers are confronting the worst job market in decades and for most, that means submitting dozens of resumes and hearing back from none.
ADVERTISEMENT Emmersen Lashley, a 19-year-old political science major at Queen's University, has sent out over 90 applications in the last two summers, with 50 applications last summer and 40 applications this year, as per the Globe and Mail. She's looked outside of her industry, applying to movie theaters, grocery stores, and anything that could possibly provide regular pay, however not even a single offer has been made yet.
She said, 'I need to start saving, but I can't start because I can't find a job,' quoted the Globe and Mail. The absence of income isn't only postponing short-term objectives such as summer savings, it's causing her to worry about her long-term goals like establishing a secure career after graduation, home ownership and other things she had planned.
ALSO READ: Working 7 days a week comes with solid perks: Nvidia executives earn millions - here's how much CEO Jensen Huang pocketsLashley is not the only one, Canadian youths are having a hard time finding their place in the job market. According to Statistics Canada data analyzed by Indeed Canada, the unemployment rate for recent postsecondary graduates younger than 25 reached 11.2% in the first quarter of 2025, as per the Globe and Mail. That's the worst year-to-date jobless rate for this age group in over 20 years, apart from the pandemic year, according to the report.A senior economist at Indeed Canada, Brendon Bernard, attributed the high unemployment rate to economic headwinds, including Canada-US trade tensions that have made it very hard for young people to get a job, as per the report. Bernard also pointed out that graduating into a weak economy can have long-term consequences and can slow early career momentum and income growth, reported the Globe and Mail.
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ALSO READ: Elon Musk meltdown? Billionaire goes ballistic at Grok, the chatbot he created, fuels speculation about internal chaos at X and xAIA certified financial planner at Sun Life, Desmond Nwaerondu highlighted that 'Time out of the work force is going to be crucial in terms of how much they can save, or they'll have to save more in their later years once they start working in order to reach the same retirement goals had they started now," as quoted in the report.
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What are the long-term risks of not working now?Missing out on job experience, savings, and resume-building can delay career growth and financial goals like home ownership.
Can this delay retirement savings?
Yes. If you miss saving in your early 20s, you'll need to save significantly more later to make up for lost time.
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