Unemployment among citizens and permanent residents (PRs) rose to 4.7% last September — its highest figure since the 4.9% recorded during the Global Financial Crisis in 2009 — with this figure seen to peak in 2H2020.
Graduation is typically a time for hope in the future, as the new graduates ponder the future’s infinite possibilities. But as the class of 2021 huddles behind their Zoom screens for makeshift graduation ceremonies, the only emotion many of these young people will feel is fear.
As Covid-19 ravages the global economy, young people have seen jobs and internships abruptly withdrawn as firms hunker down to defend their cash flows from the almighty headwinds of the worst recession since independence.
