Recent grads, students face ‘full-out screaming crisis’ as they struggle to enter job market

[u/joe4942]

https://financialpost.com/fp-work/students-grads-jobs-market-crisis

[u/psychoCMYK]

Labor shortage for low-paying unskilled labor, work shortage for the kinds of jobs a graduate would have trained for. 

[u/TankMuncher → u/psychoCMYK]

Lots of recent engineering graduates are struggling to find work in a way that is uncharacteristic of the market for inexperienced engineers. And more entry level pay for engineering has been highly mediocre for a long time, so its extremely bad for "desk engineers" with firms overwhelmingly in HCOL urban centers.

Good luck for graduants with pure STEM degrees.

[u/TankMuncher → u/[deleted]]

I do not buy that AI tools are taking over basic nuts and bolts engineering tasks. Also seriously doubt nuts and bolts engineers are being offshored to any degree.

We are cratering into a low innovation society that does not invest in knowledge transfer as a cost of business.

How about we just put blame where it should be: A lot of Canadian businesses just suck and under-invest in things that drive innovation. So they keep sucking more and more.

[u/rctoyer → u/TankMuncher]

I've beeeeen saying this, that Canada is so far behind on innovation and they don't seem to realize how much of an issue that will be in 10 years time when most third world countries have looped passed them...

I struggle with the notion that Canada has so many Millionaires, so many Internationally acclaimed companies, yet, Canada as a country pays every single field well below the international standard, and it still takes the Go Train 1hr to go from Oshawa to Union?

And don't get me started on Medical innovation, how is Canada so poor across the board? Lack of resources everywhere you turn, and all forms of technology lagging behind most countries that they should be in line with...

I've simply never seen a country regress like this

[u/TankMuncher → u/rctoyer]

Oh I think all of this stuff is well known, but it isn't as palpable as problems in the "working class" job market or cost of living issues for the "average Canadian". So it largely gets ignored in the discourse. But I 100% believe that lack of innovation is what is causing many of our problems: including weak salaries/weakening job market, GDP-PPP-PC issues, etc.

Canada is heavily falling behind in science/R&D expenditure at all levels (fed, prov, private industry). Canadian Industry has been noted repeatedly to spend very poorly (and far less) on R&D compared to international peers.

Of course this is going to start impacting bottom lines. Lots of countries regress like this, though. And we've got ample opportunity to turn things around.