Generation Nixed: Why Canada’s youth are losing hope for the future
TAVIA GRANT AND JANET McFARLAND
The Globe and Mail
Published Saturday, Oct. 27 2012, 8:00 AM EDT
Last updated Sunday, Oct. 28 2012, 8:08 AM EDT
Crippling debt to buy credentials no one wants. Low-paying, short-term jobs that put middle-class prosperity out of reach. And, for good measure, the prospect of a penurious retirement.
That’s the deal on offer to many twentysomething Canadians today, a tectonic shift that could leave a permanent gouge in the national economy.
While young people have always struggled to get established, economists and labour experts say this time is different. Those in their 20s today are facing far more hurdles than their parents’ generation, and those difficulties are likely to linger, with profound economic consequences for Canada. There is diminished job security, the growth of temp work, rising costs for food, tuition and housing and record debt levels. To top it off, young people entering the work force today are far less likely to retire with a company pension than their parents’ generation.