Post-secondary students are graduating into a recession — here’s what that means for the social impact sector
Why It Matters
Compared to the general population, recent graduates are particularly hard hit by economic downturns, experiencing long-term reductions in wages, employment, and even higher mortality.
The International Monetary Fund forecasts that Canadian gross domestic product will fall by over 6 percent this year, which will be the most substantial economic contraction since the Great Depression of 1929-1933 and significantly more severe than the Great Recession of 2007-2009. While no financial crisis is the same, economic recessions disproportionately negatively impact those entering the workforce, in comparison to the general population.
Leaders from across society — including businesses, non-profits, post-secondary institutions, and governments — need to take action to empower recent graduates to launch their careers successfully, as this will enhance the productivity, skills, and h
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