BUSINESS
06/20/2020 09:18 EDT | Updated 06/20/2020 09:27 EDT

What Does A 30% Unemployment Rate Mean For Canada's Young People?

Canada's youth have been hit very hard by the COVID-19 lockdowns, more so than in any typical recession.

Canada’s under-25 crowd is facing the worst unemployment crisis on record, with the jobless rate near 30 per cent in May. For students returning in the fall, nearly 40 per cent are out of work.

The COVID-19 crisis hit precisely those industries that hire young workers the most, and many of those industries will still be struggling with social distancing measures as they reopen from the lockdowns.

In the video above, HuffPost Canada senior business editor Daniel Tencer runs down what this means for the future of Canada’s young people, and why it matters.