MONTREAL - A senior Bank of Canada official says we need to rethink our approaches to education and training as young people face a difficult labour market marked by low turnover and high long-term unemployment.In a speech in Montreal, Nicolas Vincent, an external deputy governor at the Bank of Canada, says the job market is particularly challenging for young people.Vincent says not only are young people overrepresented in the ranks of the unemployed, but they also make up almost a quarter of the long‑term unemployed — a share that has more than doubled since 2022.
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