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Canada Youth Jobless Rate Remains Elevated Despite August Improvement, BMO Says

BY MT Newswires | ECONOMIC | 09/09/25 06:18 AM EDT

06:18 AM EDT, 09/09/2025 (MT Newswires) -- Bank of Montreal (BMO) said Friday Canada's youth unemployment rate fell in August for the first time since February.

The jobless rate for those aged 15 to 24 stood at 14.5%, more than twice the national average of 7.1%, the bank said.

BMO attributed the elevated youth jobless rate to a surge in the cohort's population in recent years, driven by international students. Even with tighter immigration targets last year, the larger pool of job seekers and a softer economy have kept unemployment high, the bank said.

BMO added that despite the August decline, it will take more time and a clearer economic outlook for youth unemployment to normalize.

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