Thank you, Madam Chair.
I'm going to go quickly, then.
I want to say right off the bat, with respect to Stats Canada, I think something needs to be said about the fact that when we compare to the OECD average, that also includes huge outliers like Greece, Spain, and Italy. We should be setting the bar perhaps a bit higher for ourselves in Canada.
In that spirit, I want to quickly read a quote from the TD study that was referenced by one of our witnesses—I apologize, I don't remember which one. It says:
It has been estimated that a 1 percentage point increase in the unemployment rate equates to an initial wage loss of 6-7% and that it can take anywhere from 10 to more than 15 years to close that gap.
When you're in your twenties—and I know because these people are my friends and peers—that's a huge amount of time. Those are people who are not buying homes and who aren't having families, then schools aren't being built and stores aren't opening up in those communities.
In that spirit, my question would be for my friends from the CLC. You mentioned the fact that there's more to this issue than just the numbers. I'm wondering if you can maybe elaborate on that.