Thank you, Chair.
Thank you to all the witnesses.
My first question is to Ms. Yalnizyan of the Canadian Centre for Policy Alternatives. I want to read you something that the Toronto Dominion Bank's economics department has said:
Being unemployed at a young age can have a long-lasting impact on an individual’s career prospects. Economic research indicates that a period of unemployment at the time of entry into the labor market is associated with persistently lower wages many years thereafter. This...fact [is] known in the literature as “scarring”....
With that in mind, you would probably agree that periods of youth unemployment have these long-lasting and negative effects on future wages. In fact, the TD Bank suggested that the amount of wage losses would be about $12.4 billion as a result. Can you give us an explanation of what the long-term and negative effects of youth unemployment on wages would be and other consequences aside from just wage implications?