Article content

Good economic and taxation policies work much the same way St. Patrick’s influence did in Ireland and worldwide: they develop slowly over decades of perseverance, patience and long-term thinking. Meaningful results rarely appear quickly, but the consequences of good or bad decisions eventually become impossible to ignore.

Article content

I was recently speaking with a young professional about the challenges of starting a career in Canada today and whether things were easier when I began. It wasn’t. I started articling in the late 1980s and early 1990s when Canada was in the midst of a recession. The job market was tight and opportunities were slim. I was fortunate enough to finish my articles at a great local firm in Calgary, but the threat of layoffs always loomed.

Article content

Article content

Article content

Accordingly, I focused on working hard and learning as much as possible, trusting that the economy would eventually improve.

Article content

Article content

Economic cycles come and go — that’s nothing new. However, I’m concerned that today’s labour market may be evidence of something more structural taking hold. Employment declined by 84,000 in February while the unemployment rate ticked up to 6.7 per cent, according to Statistics Canada.

Article content

Some observers might shrug off the numbers by pointing out employment has not changed much over the past year, but that misses an important point: Canada’s population has rapidly grown over the past several years.

Article content

Canada’s population remained significantly larger in 2025 than it was just a few years ago, Statistics Canada estimated, even as growth sharply slowed and briefly reversed in the third quarter. The employment rate inevitably declines when the population grows, but employment fails to keep pace.

Article content

That is exactly what the latest data reveals. The employment rate has fallen by 0.4 percentage points over the past year, so a smaller share of Canadians are working despite the country having significantly more people. With our country already grappling with weak productivity and sluggish economic performance, that should not be dismissed lightly.

Article content

Article content

Even more concerning is that the unemployment rate for youth aged 15 to 24 climbed to 14.1 per cent in February, with employment falling by 47,000 in a single month. Outside the pandemic years, youth unemployment is approaching the highest levels seen in more than a decade. I’m seeing this firsthand with numerous friends’ and family members’ youngsters who are struggling to find employment.

Article content

Article content

Young workers represent the next generation of taxpayers, entrepreneurs and job creators. Entry-level jobs enable young people to gain experience, build skills and eventually become productive contributors to Canada. A scarcity of those jobs is simply not good. Today’s youth employment challenges can easily become tomorrow’s fiscal challenges, compounding the ones Canada already faces.

Article content

Young people face an additional challenge: artificial intelligence (AI). Many entry-level jobs — the very roles that traditionally helped young people gain experience — are increasingly susceptible to automation. But it also presents enormous opportunities for those willing to adapt and develop new skills. Countries that foster innovation, investment and entrepreneurship will likely see these technologies translate into higher productivity and increased growth.