ExKiwilass

http://www.cbc.ca/news/yourcommunity...n-jobless.html

Better life for the kids, huh.

"Andrew Karam has had only two job interviews in the last eight months. This, despite the fact that he graduated with honours from the civil engineering program at the University of Ottawa, and has sent out over 100 resumes. For now, he's working in construction with his father.


Thousands of young Canadians are in Karam's position, struggling to find work in their fields, biding their time in other jobs, and referring to their university degrees as expensive pieces of paper.

. Those who go to go on to college and university are graduating with an average debt of $27,000.

Many more are witnessing stable, long term and full-time careers giving way to contract work, part-time jobs and one-off projects."

MarkG

Doesn't sound much different to the rest of the Western world right now.

What is it, 50% youth unemployment in some EU nations?

Zen10

Totally agree - real problems across the G20 right now. Chinese currency manipulation is not helping either, plus out-sourcing by greedy Western corporations, severely unaffordable housing across much of the West, rising unemployment, insolvent banks, massive private debt, massive public debt, flat-lining ZIRPs.

I wouldn't feel safe anywhere really, even Australia, whose banks weathered the storm better than many.

Shard

Yes I think Spain is at 50%. The whole of Southern Europe is particularly bad (as it has been for years).

UK tuition fees now £9K p.a. so you can imagine British students will be graduating with a lot more than $27K (£17K) debt.

energysolutions

Housing is ridiculously overpriced in some regions, in my locality it was a product of banks giving credit to all (125% mortgage anyone?) which drove prices skyward (they doubled in some areas within a year - hardly sustainable)

Then came the crash (the easy credit dried up) - suddenly the housing market, which had refused to stop climbing, fell like a house of cards and has continued to fall till this day (since 2007)

Housing here is now quite affordable with prices being probably lower than they should be (apartment went on the market last week for £24,000) but still no one is buying as they are scared that prices are still dropping and no one can get a mortgage unless they have a ridiculous deposit (which suggests to me that the banks outlook is not overly positive) and is the polar opposite to how it was

Until something breaks this circle it will continue to get worse

christmasoompa

In *some* parts of the UK, not everywhere!

Shard

£24K is that a typo?

energysolutions

Nope, its accurate - it was on the news as an example of how far property had fallen and it wouldnt take a lot of looking to find similar

It is truly eye watering as to how far property prices have fallen

At current prices property in my locality is an excellent investment long term in my opinion but only if you have the cash to purchase without borrowing (as the banks lending criteria is impossible)

Shard

Is that in Britain?

energysolutions

Yes

Shard

Related to this topic (labour market) this looks like a really good new documentary:

http://www.guardian.co.uk/film/2013/...y-robert-reich

Near the bottom of the article there is a discussion of Britain's situation.

scootb

I hate the lies that we are constantly bombarded with,remember back around August/Sept last year,the Govt tried to tell us that the UK was out of recession?(bullshit!)
Last week on the radio I hear Scotland is out of recession,but then they tell us that construction has dropped to a record low,which in turn keeps us in the same boat.(worst scenraio since 1955 they reckoned)

Anyone remember the (I think it was a labour MP),saying that the public have NEVER had it so good(at the start of the recession,and start of the scandal about MP's 2nd homes,new kitchens,duck ponds etc..)

I can't see things getting any better without first getting worse over the next few years,especially when the construction industry is in decline.I would like very much to be wrong,but look at history,and it repeats itself.

Alan2005

He was right. The decade between 1997 and 2007 was probably the best many people will ever have. Shame it was all built on debt.

Shard

Ironically, that's true!

Hawk13

Have to admit I truly don't get this. It's not that I don't get that many can't find a job after graduating but that you can't find a job in civil engineering.

If you google civil engineering jobs there doesn't seem to be a shortage. Calgary on "indeed" - 189 postings, "wowjobs" - 292 postings, Vancouver on "wowjobs" - 197 postings. And there is a bunch that are specifically for "new Grads".