Bank of Canada Governor’s comments mean challenges of Gen Y may finally garner attention

“The best thing to happen to jobless young adults in ages might be last week’s comment from Bank of Canada Governor Stephen Poloz that unpaid work is better than no work,” Wrote Rob Carrick in a Globe and Mail article on Monday. Carrick continued, “The central bank chief was not at his rhetorical best in handling this subject at a news conference. He sounded like an out of touch old geezer, and he’s neither. Still, he did manage to break the unofficial embargo on people of influence talking about the problems of Generation Y.  Earth to Ottawa, and all the provincial capitals: It’s tough out there for young adults who are graduating from college or university and trying to build a career. Employers are taking advantage of their leverage over young workers by withholding permanent work and offering contract jobs or, worse, unpaid and semi-paid internships. High schools are graduating students with minimal guidance on how to best navigate the job market and parents are digging into their savings to help their 20- and even 30-something kids.” Read the full article here. | Raymond Matt, CFP, CLU, TEP, CHS

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