Latest news with #youth unemployment
CNA
16 hours ago
- Business
- CNA
China manufacturing sinks again in July as US trade talks stall
China has struggled to maintain a strong economic recovery since the pandemic, as it fights a debt crisis in the crucial property sector, chronically low consumption and elevated youth unemployment. A spate of natural disasters has also hit the country this summer, with at least 48 people killed and tens of thousands evacuated this week as northern China endured some of its worst floods in years. "While the statistics bureau partly attributed the decline to weather-related disruptions to production, the breakdown suggests that demand has softened too," Zichun Huang, China economist at Capital Economics, said. "The new export orders index dropped back as high tariffs began to weigh again," Huang added. "More of the current weakness in demand appears to be domestic in nature," she said. China's bruising trade war with the United States - now on hold pending a deal - has hit the export-dependent economy. Beijing and Washington called a 90-day truce on the staggeringly high duties in May, and held two days of talks this week aimed at avoiding their reimposition on Aug 12.
CBC
a day ago
- Business
- CBC
Thousands line up for CNE job fair amid high youth unemployment rates
Growing up, Edson Segawa thought it would be easier to get a summer job. "Looking at movies and stuff, how easy, you just go in and get a job. It's more like they were complaining about having a job, but now it's all I want," he said. Segawa is one of thousands of young people who lined up at the Enercare Centre on Wednesday for a chance to get a seasonal job at the Canadian National Exhibition. The CNE says it has received 54,000 online applications to work at the fair this summer – a record that reflects the current labour market. First-quarter data from Statistics Canada says that, apart from the pandemic, Canadian graduates between the ages of 15 and 24 are facing the highest unemployment rate this country has seen since the mid-1990s. Students, young graduates hit hardest in today's job market Viet Vu, the manager of economic research at Toronto Metropolitan University's Dais, says youth unemployment is up because the job market has cooled over the last several months, due to fewer businesses hiring and the disruptions in trade with the United States. Vu says a lot of young people who are looking for their first job after graduation and students who are looking for summer jobs are hit especially hard in a difficult job market. WATCH | How did the Gen Z job market get so bleak? How did the Gen Z job market get so bleak? 2 months ago Every year, CNE hosts the job fair to recruit people for more than 5,000 positions, including cashiers, retail associates, game attendants, food service staff, midway operators, and informational guides. Mathushanth Premachandran arrived at Enercare Centre at 7:30 a.m., almost four hours before the fair started. This is his second year at the job fair, and he says he was surprised to see the high number of people lined up. "I was here last year, and I was one of the first few people here, so I expected the same thing to happen this year, but there's a longer line than last year," Premachandran said. He says the job fair is a great opportunity for the youth who are struggling to find jobs. "Every place asks for experience, but how are you supposed to get experience if you don't have any yet?" Young people view CNE as 'incredible' job opportunity: CEO Joel Hiruy also arrived hours before the job fair to get a higher chance of being at the front of the line. "It hasn't been that easy to get a job," he said. "I thought it would be really simple, just go in and get hired, but that's not really the case." That feeling is seconded by Marcus Seepersaud, who says he has been to 10 interviews this summer but just can't land a job. "I feel like it's the hardest it has been. Last year it was a little easier," said Seepersaud. WATCH | Why are there no jobs for Gen Z? Recent grads face worst job market since the '90s: Why are there no jobs for Gen Z? Recent grads face worst job market since the '90s 2 months ago The CNE's CEO Mark Holland says the job fair turnout shows "how many young people understand that this is an incredible opportunity as a first job." "There's huge demand and let's be straight, right now, for young people, is a tough environment to look for a first job, but we're here as a big part of that solution," said Holland. He says the CNE is looking for people with a great attitude to fill the open positions. "We're looking for that joy and energy because that's what the CNE is, this is what the fair is. It is a place of joy, so we want people who will bring that spirit."
Yahoo
a day ago
- Business
- Yahoo
CNE receives record number of job applications amid high youth unemployment
TORONTO — Thousands of young people are set to line up for job interviews at the Canadian National Exhibition today amid a high level of youth unemployment in Ontario. The CNE says it has received more than 54,000 online job applications for more than 5,000 seasonal positions at the two-week fair, including cashiers, retail associates, game attendants, food service staff, midway operators and informational guides. It says this is the highest number of job applications it has ever received, calling it a reflection of a job market that's causing high rates of youth unemployment. One expert says the youth unemployment rate is higher this year compared to the same period last year but it's still lower than during the COVID-19 pandemic and the 2008 recession. Viet Vu, the manager of economic research at Toronto Metropolitan University's Dais think thank, says youth unemployment is up because the job market has cooled over the last several months, due to fewer businesses hiring and the disruptions in trade with the United States. The seasonally adjusted unemployment rate for people aged 15 to 24 in Ontario was 15.8 per cent in June. Vu says a lot of young people who are looking for their first job after graduation and students who are looking for summer jobs are hit especially hard in a difficult job market. The CNE says it has already hired people for more than 1,000 positions. This report by The Canadian Press was first published July 30, 2025. The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBC
a day ago
- Business
- CBC
As young people struggle to find jobs, one expert says several factors play into high unemployment
Some young people in Newfoundland and Labrador are struggling to find jobs as the youth unemployment rate surges. As the CBC's Jenna Benchetrit reports, one expert says several factors are keeping the number high.
CTV News
3 days ago
- Business
- CTV News
CNE reports record number of registrations for annual job fair amid rising youth unemployment rate
Crowds make their way through the midway during opening day of the Canadian National Exhibition in Toronto on Friday, August 19, 2022. As youth unemployment across Canada continues to rise, one of the country's largest festivals is reporting a record number of signups for its annual hiring fair. In a release issued Monday, the Canadian National Exhibition (CNE) said it received a record 54,000 online applications to work at the fair this summer. That number is significantly larger than the amount of vacancies CNE is hoping to fill at a hiring event this coming Wednesday. There are 5,000 openings to work at the Exhibition between cashiers, retail associates, game attendants, food service staff, midway operators, and information guides. The CNE says 1,000 roles have already been filled. Statistics Canada's June 2025 Labour Force Survey showed that youth unemployment hit 14.2 per cent, up 0.7 percentage points year-over-year. StatsCan said that rate remained significantly above a pre-pandemic average of 10.8 per cent recorded between 2017 and 2019. The unemployment rate for returning students specifically—those heading back to school in the fall—also remained elevated at 17.4 per cent in June. That's down slightly from 20.1 per cent in May, which marked the start of the summer jobs season. StatsCan said it was the highest unemployment rate for returning students in the month of June since 2009, excluding the pandemic period. In Ontario specifically, student unemployment in June sat at 18.9 per cent. The CNE said 81 per cent of its staff at last year's two-week long fair identified as youth between the ages of 14 and 29. This year's job fair will start at 11 a.m. on Wednesday in Hall C of the Enercare Centre at Exhibition Place on Princes' Boulevard. Last year, over 4,000 people attended the hiring event. The Exhibition will start on Aug. 15 and run until Labour Day, Sept. 1.
