Pandemic has Taken a Huge Toll on Young Canadians

But bank executive Neil McLaughlin tells Licence to Learn students that there is reason for optimism

TORONTO, March 23, 2021 /CNW/ - Neil McLaughlin, RBC's Group Head of Personal & Commercial Banking, today told a gathering of students and faculty from the Licensed to Learn (L2L) program that young Canadians have been among the hardest hit by the COVID-19 pandemic, with 30% of them currently unemployed according to Statistics Canada.

"Yes, the pandemic has taken its toll on all of us," Mr. McLaughlin said. "But young people are being hit especially hard."

Speaking at a virtual conference of close to 75 students, peer mentors, and trainers from the L2L program, Mr. McLaughlin noted that in addition to struggling with high unemployment, young Canadians are also coping with high rates of anxiety and depression.

Quoting from a study by the Canadian Mental Health Association published last July, Mr. McLaughlin revealed that more than 19% of respondents aged 18 and up said they were experiencing moderate to severe anxiety, 27% reported binge drinking, 23% felt lonely and 18% felt depressed.

"These are concerning figures," he told participants in the L2L program, which is operated by the International Development and Relief Foundation (IDRF) and funded by RBC through its Future Launch initiative.  "Young people don't have sufficient access to the mental well-being supports and services they need."

Despite the challenges, Mr. McLaughlin said there is plenty of reason for optimism.

"The challenge for young Canadians isn't about a lack of talent, ability, or motivation," he explained. "It's about a lack of opportunity. And finding ways to connect youth to those opportunities is precisely what we're trying to achieve through RBC Future Launch. And why we partner with organizations like IDRF."

Mr. McLaughlin said that in a 2018 report called "Humans Wanted," RBC had identified four main barriers standing in the way of success for young Canadians. They were: Lack of relevant experience; Lack of relevant skills; Lack of professional networks and mentoring; and Lack of mental well-being supports and services.

Since then, RBC has partnered with private and public sector organizations like IDRF to provide access to long-term solutions, programming and resources that align with these four challenges. According to Mr. McLaughlin, the results so far have been positive, with some 2.6 million youth across Canada having been positively impacted by an RBC Future Launch-supported program. And recently, RBC Future Launch invested $50 million through to 2025 to create pathways to prosperity for up to 25,000 BIPOC (Black, Indigenous, and People of Colour) youth, with emphasis on skills development and mentoring.

"Young people have the confidence, capabilities and motivation, combined with an excess of talent and potential," Mr. McLaughlin told the L2L participants. "They just need support to fully harness that talent and put it to work." 

In closing, Mr. McLaughlin acknowledged the challenges that L2L students, mentors and trainers have been facing, especially since the outbreak of the pandemic, and their unwavering commitment to making a positive difference.

"I want to thank you again for the amazing work you've done and continue to do to instill possibility and opportunity across Canadian youth," he said. "We're proud to be your partner and to continue RBC's investment in our collective future – so game on. We know, when young people succeed, we all succeed."

RBC Future Launch is a 10-year, $500-million initiative to help young people gain access and opportunity to the skills, job experience and career networks needed for the future world of work. Since it was launched in 2017, 2.6 million youth across Canada have been positively impacted by an RBC Future Launch-supported program.

IDRF's school-based program Licensed to Learn (L2L) is an academic support program that trains high achieving students to become certificated tutors across Canada. Once trained, those students provide free tutoring to their peers struggling academically. By dedicating a minimum of 10 hours of peer-tutoring with an at-risk student the tutors not only provide academic support, but they also develop essential leadership skills and gain valuable experience to support their transition to the workforce and post-secondary education. The peers they support receive mentorship to facilitate their development and future academic and professional success. In partnership with RBC's Future Launch, L2L program is now operational at over 100 schools across six school boards. By the end of this year, L2L will have impacted some 40,000 students since its launch in 2002 through academic and social support.

Find out more about IDRF's L2L program. 

About IDRF

IDRF is a Canadian registered charitable organization dedicated to empowering disadvantaged people in Canada and around the world. Founded in 1984, IDRF has an enviable reputation as one of Canada's best-run charities and has been recognized by third-party organizations such as the Financial Post and MoneySense for its effectiveness, efficiency, and results.  Find out more about IDRF's work in its Annual Report, and follow them on Facebook, Instagram  and LinkedIn.

SOURCE International Development and Relief Foundation

Media contact: Zeina Osman, Director of Major Gifts and External Relations, IDRF, Tel: [phone] (# 504) or Cell: 613 304-2568, [email protected]