Angela Dai's Blog

The recession has not only impacted global economies, major firms, companies, but have also effected the student population. Canada’s student unemployment rate has increased from 6.5 percent to 9 percent in 2007-2008 and 2009-2010.

This will negatively impact students. First, the dropped employment will lead to less disposable income of students. The relative price of tuition, textbooks and living costs will increase thus hardships will be imposed on students. The level and quality of education will be affected as a result of this. Second, the employment sector will face downturns as employees decrease. Less productivity will be accumulated since labor is decreasing.  Third, graduates’ work experiences will be undermined since not enough training for the work-field will be provided for them. Employers are looking for older and more experienced workers since they have more security and can work for longer periods of time.

However, a positive factor of the situation is that students will be more motivated and willing to increase their competitiveness in the job market. They will do so by gaining new knowledge, coming up with innovative and creative ideas to attract potential employers.