Young, educated workers today are earning more than in previous generations, according to a new report from Desjardins.
But it's not all rosy for young Canadians, with women in particular facing declining mental health and ongoing barriers in the labour market.
Desjardins found young Canadians are more educated today than in the past, with more of them holding college certifications and bachelor's degrees than many of the countries in the Organization for Economic Co-operation and Development . They found the younger cohort earned several thousand dollars more each year, adjusted for inflation, than those who graduated a decade earlier, suggesting the return on education is rising.
Young women, for example, were facing declining mental health even before the pandemic hit, while young people in general saw their mental health decline significantly during the pandemic. "If you look at adults ages 25 to 44, women report caring for children as the primary reason for working part-time, while it barely registers for men the same age," the report said.
Desjardins chief economist and lead report author Jimmy Jean said these findings have implications for policymakers in Canada. " it needs to be made widely and easily accessible, without having to go through the long waiting time. So the execution of it will be crucial going forward," he said.
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