08/29/2025
A new CIBC report warns that youth unemployment in Canada has climbed to levels typically only seen during recessions. Statistics Canada data shows the jobless rate among 15 to 24-year-olds hit 14.6% in July, the highest since 2010. Analysts point to a mix of factors, including AI replacing entry-level roles in retail and support services, and a recent surge in non-permanent residents competing for jobs. By contrast, core-aged workers have seen much smaller increases in unemployment, highlighting a widening gap in the labour market.
