The financial crisis that started in 2008 has hit the world quite badly. The companies in Montreal are no different. Every company is fighting hard to stay on the same level and survive through the recession. In such circumstances, it comes as no surprise that students who graduate and look for jobs in Montreal have to face a lot of problems especially regarding their first job.
Companies Downsizing, not Hiring
The biggest problem at the moment is not that students have to work hard to come to the level that companies in Montreal demand of them. The situation is completely different. Many of the companies, instead of hiring new workers, are downsizing. Hence, students have to search hard just to find a job opportunity and once an opportunity arises through an employment agency or newspaper ads, there are so many students vying for it that the competition becomes fierce. On the other hand a lot of the baby boomers soon will retire which makes the demand for employees go up again.
Less part time jobs
Bad financial situation has also affected the small businesses, which in turn means those people who relied on part time jobs to make both ends meet have to look for other options, which aren’t many to be honest. As far as students are concerned, part time job in Montreal is something that they rely on for their monthly expenditures. Once that is gone, financial management is a headache for the students. Compared to European countries it shows that Canadian employers are not too enthusiastic about part timers. Only one on six jobs is part time according to Montreal’s statistics.
Loan
In Canada, there are many students who take loan from the bank to manage high tuition fees. With the financial crunch, banks have to be careful who to lend the money to since all the companies want money. The banks also know that students will take a lot of time in returning the loan and they can’t get much out of the students. As far as companies go, the loan amounts to millions of dollars which banks are happier to loan as they will in turn earn more interest. This means students have to look to their parents for paying their tuition fees.
Source: studentjobsca.blogspot.com
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