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In: Economics

How is the coronavirus pandemic affecting the labour market and education plans for Canadian University students?...

How is the coronavirus pandemic affecting the labour market and education plans for Canadian University students? (Students may have lost their ability to support themselves through work or with help from family, there may be foreign students who face travel restrictions, etc., some may be graduating into a market with poor employment prospects while carrying large student loans, etc. List all the possible problem scenarios that you can think of.)

Solutions

Expert Solution

The labor market in Canada is badly hit by the coronavirus pandemic. Canada lost 1.01 million jobs in March according to the official data and the worst is yet to come since the national lockdown will continue in April. The university students are also badly hit by the pandemic, Study almost stalled for many as an online substitute is not available like therapist and lawyers who need to practice. There are many problems being faced by these people.

1. Many students who worked small jobs to support themselves are jobless and hence are living on savings(if any) or asking their parents, who may be also facing the same problem but will have a little more savings.

2. If the lockdown is not over till May or June when exams are conducted, universities may not take online testa and give the degree based on previous performance. This would be painful for someone who may have worked hard to get his/her grades up in the final semester.

3. The online classes that are taking place are not at all full substitute of the physical classroom and a lot of students cannot concentrate or understand completely what is being taught.

4. Many students are cannot complete their research and other academic work which makes them competitive in the job market because again, without face to face interaction our learning is very limited.

5. Talking about the job market, students who were about to complete their studies and get to job may find it difficult because of the ongoing crises. They take students loans to fund their education which now would be even more difficult to pay.


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