[mac_quote person=”Michael Ignatieff” date=”April 11, 2011″]Young Canadians face other challenges – including the worst level of joblessness in a generation[/mac_quote]
Michael Ignatieff is exaggerating here. The unemployment rate among 15 to 24 year-olds has been hovering around 14.4 per cent for the first three months of this year. It’s by no means a rosy picture, but the figure is significantly down from where it stood at the peak of the recession in 2009: an annualized rate of 15.2 per cent. Even that, though, was not extraordinarily bad by historical standards: youth unemployment hit 16.3 per cent in 1997, and reached an annualized rate of 17.2 per cent during the early 1990s economic crisis. Joblessness among the young was also considerably worse during the economic downturn of the early 1980s, when it hit 19.2 per cent in 1983.
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