Youth Unemployment in Ontario is at an all time high, with Toronto being one of the worst cities in Canada for youth aged 15-24 to find work.

The current youth unemployment rate in Ontario fluctuates between 16-17% and 18% in Toronto, while the Canadian average unemployment rate is between 13.5-14.5%. There has been a loss of over 34,000 jobs in June alone, most of those from people aged 15-24.

According to these statistics only 1 in 2 individuals between the ages of 15 and 24 is currently employed. This is the worst youth unemployment since 1976, the year Statistics Canada started calculating youth unemployment.

This problem isn’t just affecting individuals with only a basic level of education. Youth with advanced degrees are also feeling the push. Undergraduate degrees are the new high-school diploma, the well educated are currently taking the jobs usually filled by the 15-19 year old group.

So what is being done about this persistent problem?

Currently there are several government initiatives in place, including:

• The Youth Skills Connections Fund – This fund is available for partnerships that match up young people with industry, not-for-profits and academic leaders to help them build career skills and secure industry jobs.

• The Ontario Youth Innovation Fund – Provides internship opportunities for graduate and post-graduate students, and helps post-secondary students launch startups by funding campus-linked business accelerators.

• The Ontario Youth Entrepreneurship Fund – This initiative provides increased funding for existing programs such as Summer Company and new programs to support the growth of youth-led companies with training, mentorship and seed financing.

• The Ontario Youth Employment Fund – Launched in September 2013, this fund helps employers offer four- to six-month job training placements for youth.

What do you think about the current youth unemployment crisis? Let us know by commenting below.