Mr. Speaker, we are helping young Canadians build their futures and we are making a generational investment in them. We are making these investments because we need to make sure that young Canadians secure a solid footing in the ever-changing job market. In doing that for them, we are doing it for all of Canada and for all Canadians.
The 2026 spring economic update reaffirms this with a new $6-billion investment in a nationwide effort to recruit, train and hire up to 10,000 new Red Seal skilled trades workers in the next five years, creating opportunities that will align with Canada's housing, infrastructure and defence needs. As we ride an unprecedented wave of retirements, the young Canadians embarking on careers will be the drivers of Canada's future economic growth.
With budget 2025, we are doing more to help Canada's youth launch successful careers and more to get those unemployment figures down. Starting this year, we are investing $594.7 million over two years to create more Canada summer jobs. The program will create and support up to 100,000 summer jobs this year.
We have also earmarked $307.9 million for the youth employment and skills strategy. This will be another two-year investment starting this year to provide training and jobs to around 20,000 youth annually. Programs delivered under the youth employment and skills strategy are especially beneficial to youth facing barriers to employment. By that, I mean youth who live in rural and remote areas, youth with disabilities, newcomer youth and racialized youth. Those are just a few examples.
Budget 2025 also invests $635.2 million over three years for the student work placement program. It will support around 135,000 work-integrated learning opportunities for youth who are enrolled in post-secondary education over a three-year period. I could say more, but I will pause here.
These results are ongoing and these programs are helping youth find in-demand skills and improve their job prospects. This is why, working with our partners, we must ensure they are equipped with the skills and opportunities needed to thrive. We will do that.