Mr. Speaker, the member for Sherwood Park—Fort Saskatchewan is concerned about the issue of employment, and indeed, the Canadian labour market is going through a period of disruption.
A massive retirement wave is leading to a critical labour shortage. In fact, 300,000 skilled workers are expected to retire by 2033. This is a difficult situation, but the Government of Canada is committed to preparing the workforce for the future.
That is why budget 2025 has placed such an important emphasis on ensuring that young people have a future they can be proud of, a future and a career that they can rely on. Budget 2025 is proposing increased funding for the Canada summer jobs program to support 100,000 jobs across Canada in 2026. We are funding more jobs because the CSJ program has a proven track record of creating positive outcomes. It really does set young Canadians up for a lifetime of success in the job market. Last year, the Office of the Auditor General of Canada confirmed this by reporting that CSJ participants benefit in having better long-term earnings than non-participants do. Since 2019, CSJ has provided more than 530,000 young people with work, but that is just one program.
Budget 2025 also proposes over $1.5 billion for the student work placement program and youth employment and skills strategy, which includes Canada summer jobs. This investment will support about 175,000 opportunities for youth in 2026-27 alone. That is next year. As well, ESDC's student work placement program has supported over 51,000 placements, so post-secondary students can develop work-ready skills. Three out of four employers reported a willingness to hire the students following their work placement.
Additionally, we have announced significant enhancements to Canada's job bank, which will more easily and quickly match Canadian workers, including youth, with available jobs. Our government takes youth employment seriously, because youth are the drivers of future economic growth. These programs are very successful at helping youth acquire in-demand skills and improve their employment prospects.
Above all, we believe Canada's future success depends on our trades workforce. Since the government is committed to doubling the pace of housing construction, Canada will need to hire thousands of new skilled tradespeople who can build these homes. Automotive service technicians, power line technicians, millwrights, horticulturalists, and truck and transport mechanics are also key to Canada's road to a prosperous future.
We are actively encouraging young people to consider developing trade careers that will help them and help the country. Each year, nearly $1 billion goes toward apprenticeship supports and projects to help address challenges faced by apprentices as they pursue their Red Seal trade certification. Once they are trained, the just-passed One Canadian Economy Act will remove federal barriers to labour mobility, making it easier for skilled workers to do their job across Canada. A worker authorized in one jurisdiction can quickly and easily work in another.
The job of this government is to help create the workforce Canada needs to safeguard a strong economy. We are making sure that Canadian workers have the skills they need to succeed. We are taking action to make sure Canada comes out of this with a very deep pool of talent that will unlock a prosperous economic future for Canada that all Canadians, but particularly young Canadians, can benefit from.