Investing in youth through skills-building and creating opportunity - The future is yours!
Young generations deserve to dream, and it’s our job to support them in their aspirations, which are what propel our country forward. Without the proper investments, we cannot expect young people to be inspired to grow and learn in Canada, actively pursuing their ambitions and forging their career paths.
We have the talent here in Canada to continue to grow our GDP while providing Canadians with pathways to grow their own wealth. Currently, youth unemployment sits at 13.6% according to Statistics Canada, nearly double the rate of our American neighbors. This is unacceptable. Reducing our youth unemployment rate by just 5% will bring more than 240,000 youth into our workforce. By accelerating youth employment, Deloitte has calculated that Canada has the potential to unlock $18.5 billion in real GDP by 2034. Investing in the youth will grow our Canadian economy.
Studies have shown that just six months of unemployment contributes to measurable future wage scarring. If we leave our youth behind, we are leaving our economy behind. We will ensure that there is a tangible plan to address the needs of young people in Canada by taking the following actions:
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A National Youth Jobs & Growth Plan: Set a target to reduce youth unemployment by 5% over the next 6 years for ages 15-24 by investing in more job and entrepreneurship opportunities for young people.
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Building Hands-On Experience for the Future: Provide youth aged 16 to 30 with access to placements and community grants to build work experience and apprenticeship opportunities.
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Invest in Future Skills: Collaborate with academic institutions and high schools across Provincial lines to establish more robust apprenticeship programs for young Canadians targeting skilled trades, digital technology, and AI.
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Support for Youth Mental Health: Expand investments towards services providing mental health care for all young Canadians up to the age of 25 under public healthcare, ensuring access to therapy and counseling services in support of mental health.
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Homeownership: Raise the contribution limit on the Tax-Free First Home Savings Account in line with market inflation to help young Canadians entering the housing market and increase federal investment in housing initiatives so that young people can afford a house in a stabilized market.
- Put an end to government deficit spending: Reduce the accumulated debt load that falls to future generations, so that they can inherit a healthy public service and a healthy economy.
It’s an exciting time to be young in Canada when young people can look forward enthusiastically to entering the workforce, facing the future and their place in it with confidence. Every new generation faces new challenges, and it is the responsibility of the governing generation to see to the wellbeing of those that follow. By investing in new opportunities for young Canadians, and cultivating an environment that not only helps, but encourages young people to get ahead, we can provide a future worth investing in with confidence — a Canada that is proud and prosperous.