Tuesday, November 4, 2014

Shane Ferro — Canada's Top Central Banker Suggests Unemployed Young People Work For Free

The solution to unemployment is not "wage flexibility" but no wages at all. Neoliberalism at its finest.
The Governor of the Bank of Canada thinks the way to get the young and jobless back on track is for them to work for free. 
In reference to slack in the Canadian labor market during a speech in Toronto yesterday, Stephen Poloz said that "We estimate that there are around 200,000 [un or underemployed youth in the country], and I bet almost everyone in this room knows at least one family with adult children living in the basement. I'm pretty sure these kids have not taken early retirement." 
When asked after the speech what kind of advice he had for out-of-work youth, he said they should get a job without expecting to get paid. 
"Having something unpaid on your CV is very worth it, because that’s the one thing you can do to counteract this scarring effect," Poloz told reporters, according to Bloomberg.
Business Insider
Canada's Top Central Banker Suggests Unemployed Young People Work For Free
Shane Ferro

3 comments:

Matt Franko said...

Out of money to pay them....

Brian Romanchuk said...

Hey, there's a guaranteed job for you!

Wait, you wanted a guaranteed wage, too?

Sigh.

Ralph Musgrave said...

Ferro's suggestion isn't TOTALLY stupid: there are thousands of interns working for nothing and gaining experience. If you seriously want to get started in a particular trade or profession, it's not a bad way to start failing anything better.

Still, we ought to be able to organise something better.