07:29 AM EDT, 07/11/2025 (MT Newswires) -- Canada's youth unemployment rate was probing more than decade highs ahead of the June Labour Force Survey (LFS) due out later Friday, said Bank of Montreal (BMO).

At more than 14%, Canada is currently still seeing that rate at recession-like levels, noted the bank.

Over the past year, job growth in the 15-24 years old group has held firm at 1.1%, but the labor force has grown by 2.8%.

Over the past two years, during which BMO has seen a

near-5 ppt rise in youth unemployment, job growth has

been solid, but unable to keep up with a 7.4% jump in the

15-24 labor force.

This isn't a participation story -- youth participation has actually fallen "notably" -- it's more of a population growth story, stated the bank.

With immigration caps now in place, namely on students

and nonpermanent residents, BMO looks for a gradual rebalancing of conditions in the youth job market -- "it's just going to take a while."