Understanding Economic Shocks and their Impact on Canadian Youth
Economic downturns can wreak havoc on lives, especially for young Canadians entering the job market. This impact isn’t just immediate; it can leave lasting scars known as “labour market scarring.” Recent graduates face unique challenges, exacerbated by existing barriers and socio-economic factors. While policymakers often focus on short-term relief, the long-term consequences demand attention.
The COVID-19 Pandemic: Exacerbating Challenges for Young Canadians
The COVID-19 pandemic accentuated these challenges, with factors like sociodemographic disparities, social isolation, and housing affordability intensifying the struggle. Despite a tightening labour market post-pandemic, the risk of scarring persists due to issues like rising living costs and learning losses. Moreover, certain industries, particularly hospitality and tourism, continue to lag, affecting young workers disproportionately.
The Long-Term Effects: Labour Market Scarring on Youth
The Long-term Labour Market Scarring on Youth from Economic Shocks report highlights the 
far-reaching impacts of economic shocks, including reduced earning potential, lower-quality employment, stigma toward resume gaps, and risks to well-being. These effects aren’t distributed equally, with marginalized groups facing compounded challenges.
Introducing Reboot Plus: A Comprehensive Strategy for Support
In response to these pressing issues, a proactive approach is necessary. Enter Reboot Plus—a comprehensive strategy aimed at mitigating scarring effects and supporting youth through economic shocks. Here’s how we help:
- Losses in Earning Potential: The Reboot Plus program’s targeted programs to enhance skills and competencies, equipping young Canadians for employment opportunities despite economic downturns.
- Reduced Quality of Employment: By promoting inclusive hiring practices and fostering workplace diversity, Reboot Plus helps young workers access fulfilling careers with growth prospects.
- Setbacks for New Graduates: Tailored support programs assist recent graduates in navigating the job market, minimizing the impact of unemployment on their long-term earnings and career trajectories.
- Stigma Towards Resume Gaps: Reboot Plus combats discrimination by educating employers on fair hiring practices and encouraging inclusive recruitment strategies that value diverse experiences.
- Reduced Equity and Social Inclusion: Through targeted initiatives, Reboot Plus addresses systemic barriers faced by marginalized youth, promoting equity and fostering social inclusion in the workforce.
- Risks to Well-Being: Integrated mental health support services within Reboot Plus prioritize the well-being of young Canadians, recognizing the profound impact of economic instability on mental health.
- Reduced Social Capital: By facilitating networking opportunities and mentorship, Reboot Plus strengthens young people’s connections to the labour market, particularly benefiting those from underprivileged backgrounds.
- Challenges for Youth with Pre-Existing Inequities: Reboot Plus acknowledges and addresses the intersectional challenges faced by racialized, Indigenous, and LGBTQ2S+ youth, ensuring tailored support to overcome systemic discrimination.
- Youth NEET and Income Inequality: Reboot Plus aims to reduce the NEET (Not in Employment, Education, or Training) rate by providing targeted interventions to re-engage young Canadians in the workforce and address income disparities exacerbated by economic shocks.
- Employment Rate Disparities: Through partnerships with employers and community organizations, Reboot Plus seeks to close employment gaps for marginalized groups, promoting inclusive growth and economic prosperity.
Building Resilience and Empowering Canadian Youth
Economic shocks will continue to pose challenges for Canadian youth, but with proactive measures like Reboot Plus, we can mitigate the long-term impacts and foster a more resilient, inclusive labour market. By investing in the well-being and economic empowerment of young Canadians, we ensure a brighter future for all generations.
With funding from the Government of Canada’s Future Skills Centre, we are examining whether a hope-centred education and career development program can help youth find their purpose.
Le projet Reboot Plus est financé par le Centre des Compétences futures du gouvernement du Canada