Youth unemployment is climbing fast across major economies, a bad sign for young workers and an early warning that the global economy is weakening.

• Young people are the first to suffer when companies stop hiring.
• Canada and China are both seeing big jumps in youth unemployment, with China hitting record highs even after changing how it counts the numbers.
• Since 2021, businesses cannot afford to take risks on new hires.
• Companies are sticking with workers they already have because they are productive and known quantities.
• Hiring an untested young worker is now seen as too risky in a tight economy.

Outlook: Youth unemployment will likely keep rising as long as businesses stay cautious about hiring.