Education, training need rethinking amid changing job market dynamics: BoC - BNN Bloomberg

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, said the job market is particularly challenging for young people. He said 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. He noted that when the economy slows, u…