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Canada and Youth Unemployment - Analysis and Commentary

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This presentation discusses Youth Unemployment for Canada. The presentation looks wage rates, jobs and GDP growth.

Publicada em: Economia e finanças
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Canada and Youth Unemployment - Analysis and Commentary

  1. 1. CANADA AND YOUTH UNEMPLOYMENT BY: PAUL YOUNG, CPA, CGA NOVEMBER 1, 2016
  2. 2. AGENDA • Youth Unemployment / OECD • Youth Unemployment/September 2016 • Wages/Employment • Germany Youth Unemployment
  3. 3. YOUTH UNEMPLOYMENT - OECD Source: OECD
  4. 4. SUMMARY • In September, employment among youths aged 15 to 24 was little changed and their unemployment rate remained at 13.2%. The unemployment rate for this group was essentially unchanged compared with 12 months earlier. Over the same period, fewer youths were working (-35,000 or -1.4%) and their population was down by 47,000 (-1.1%) – Source – Stats Canada
  5. 5. WAGES/JOBS Source – Stats Canada Source: Workopolis Analysis • Manufacturing / Durable Goods - $1,097 (Trades, engineering, High School) • Public Administration - $1,200 (College Degree/Diploma • Transportation - $1,007 (High school) • Utilities - $1,767 (Skill Trade) • Wholesale/Retail -$1,130 – (High School, Degree/diploma
  6. 6. YOUTH EMPLOYMENT/GERMANY • Germany's dual system trains 1.5 million people annually. Across the board, from bakers and car mechanics to carpenters and violin-makers, about 90 percent of apprentices successfully complete their training, German government figures show. The apprenticeships vary in length, between two and three- and-a-half years. The average training "allowance" is 680 euros a month (approximately $900), and about half of the apprentices stay on in the company that trained them. Source - http://www.npr.org/2012/04/04/149927290/the-secret-to-germanys-low-youth-unemployment
  7. 7. CANADA COLLEGE GRADUATES http://cou.on.ca/wp-content/uploads/2015/06/COU- University-Works-Report-2015.pdf
  8. 8. REALITY / JOB MARKET What Drives Growth? • Retail Sales • Consumer Spending • Exports • FDI • Access to market • Global demand • Government Spending • Healthcare • Education • Public Safety • Retirement • Infrastructure How can government influence growth • Taxation (Corporate, Payroll Consumption Taxation) • Carbon Taxation • Setting Hydro Rates • Setting Regulation (environment) • Trade and Investment Deals Job Market • Job Churning Market - http://news.nationalpost.com/news/canada /get-used-to-the-job-churn-of-short-term- employment-and-career-changes-bill- morneau-says
  9. 9. WHAT CAN YOU DO TO IMPROVE YOUR CAREER CHANCES • Select a career that has upsides in terms career opportunities • Look at a trade • Managed your name like a brand • Network early and often
  10. 10. WHAT CAN GOVERNMENT DO TO REDUCE YOUTH UNEMPLOYMENT • Do not introduced more taxation (carbon, payroll, corporate) • Work with businesses to help expand to new markets (Exports drive good paying jobs) • Focus on skills development • Focus on innovation centers (All levels of government and the private sector) • Control hydro rates • Re-work education system including pay grades and educational programs to align with jobs today and tomorrow

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