Labour market conditions weaken for young Canadians

Men and women under 25-years-old experienced lower employment outcomes between 1981 and 2012, finds Statistics Canada. In this age group, unemployment rates increased both for men (from 13.7% in 1981 to 15.9% in 2012) and women (11.7% to 12.6%).

Read: Educated youth struggle to find good jobs: CIBC

Men under 25 who were not attending school full time saw their full-time employment rate drop from 72.1% in 1981 to 57.1% in 2012. Their female counterparts also experienced a drop, from 57.8% in 1981 to 46.1% in 2012.

Young Canadians also experienced a drop in pay rates. From 1981 to 2012, the median hourly wage earned in full-time jobs fell by 13% for men and 8% for women.

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In contrast, women aged 25 to 34 had more favourable employment outcomes in 2012 than did their counterparts in 1981. They had lower unemployment rates, greater incidence of full-time employment, and higher wages.

Men aged 25 to 34 living in the oil-producing provinces of Alberta, Saskatchewan and Newfoundland and Labrador had mixed results. They had lower full-time employment rates in 2012 than in 1981. However, their wages were higher in 2012 and their unemployment rate was relatively low in both years.

Read: Canadian employment woes persist: survey

Meanwhile, men aged 25 to 34 living in non-oil-producing provinces had lower employment outcomes in all three components.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.