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Old 02-04-2014, 10:10 PM   #152
Enoch Root
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To those arguing that 2008 was the worst economic shock since the depression, that is true - from the point of view of the stock markets and the amount of wealth that was destroyed.

However, in terms of unemployment (the metric that should matter the most to young people) it actually wasn't even close to prior recessions. In the early 80s, Canadian unemployment hit about 13%. In the early 90s, it hit 12%. In 09, it didn't reach 9%.

(And yes, in those prior recessions, unemployment hit youth the hardest then too - if I remember correctly, youth unemployment was well over 20% in 84)
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