Canadian Finance Blog

---

Are Middle Class Careers Becoming Extinct in Canada? Posted: 23 Sep 2010 02:00 AM PDT As a young, naive high school student applying to colleges, hopes and dreams for the future rifle through young people's minds. Will you be accepted into the Ivy League school your father went to? Even if you are accepted, how will you pay for it? You certainly don't want to be seen at the community college like everyone else in your class, but this might be the only way to, as your father says, "earn your own way in the world." Living at home might not be so bad, but working at the local mall would be worse. It becomes easier for most kids to see the very end of their college career before it has even begun. It is filled with opportune internships, groundbreaking job offers, a business-savvy, beer-drinking girlfriend and luxurious trips around the world. In today's job market, these post-college dreams couldn't be further from the truth. Recent college graduates in Canada not only have to face the pressure of finding employment in a financial crisis, but also must worry about how to repay outstanding student loans. Due to shrewd policies written by commercial capitalists, Canadian jobs have drastically relocated to third world countries, denying college graduates the essential middle-class jobs that would ultimately be needed to define their careers. The current situation is viewed as dismal, at best, causing an overwhelming feeling of regret and contemplation for a vast majority of students. For some particular students, like undergraduate Justin Cantin, graduating from college meant two things: a job and not having to wear a uniform. Although like most graduates, upon completing his degree in History from the University of Ottawa in 2009, Cantin had to move back in with his mother to work at a local warehouse, left with an astounding $45,000 in student loans. The job he had hoped to acquire at a museum never materialized, despite his efforts sending out resumes all over the country. "I try to stay optimistic," says Cantin gloomily, "but for the most part, I just try not to think about it." Cantin's post-college plans appear uncertain and disappointing amidst the countries economic downfall. Many students share the same bleak outlook as student Justin Cantin, wary of how they, too will re-pay student loans and survive after graduation. More then 190,000 positions for college-aged youth have disappeared since October 2008, the unemployment rate among 15-24 year-olds reaching an alarming 16.3 per cent in August 2009 (MacLean's Magazine). The seldom few jobs that are offered out there are deemed unfit for any post-college graduate, leaving slim pickings for any recent grad. It is true that similar unemployment crises have befallen the masses prior to this one. The early 1980's reached an unbelievable 20.6 per cent unemployment rate for those aged 15 to 24. A very similar situation occurred at the onset of the 90's when a shocking 18.4 per cent of youth found themselves out of work. The daunting task of finding employment after graduation may be disheartening and discouraging for many of Canada's youth. It is important to utilize all of your tools in this economic recession and do the best that you can to try and scrap up some extra money. If that means selling your video game system, or comic book collection, then so be it. It is more important to be active in pursuing a job, then to wait around for the economy to get better. Who knows, you could be waiting forever. Author Bio: Leon Harris writes for Credit Crisis, a Canadian personal finance blog with an emphasis on careers, real estate, politics, and banking. Related Posts: How To Write A Great Resume Are Taxes In Canada Really That High? A Look At Ponzi Schemes In Canada Are Middle Class Careers Becoming Extinct in Canada? originally appeared on Canadian Finance Blog on September 23, 2010.

You are subscribed to email updates from Canadian Finance Blog To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610