Renewed funding for Student Work Placement Program (SWPP) is an essential investment in Canada's businesses and future workforce

TORONTO, Nov. 5, 2025 /CNW/ - Magnet, a centre for innovation housed at Toronto Metropolitan University, applauds the Government of Canada's decision in yesterday's budget to fund the Student Work Placement Program (SWPP) for an additional three years starting in 2026-27. This renewed investment of $635.2 million over three years is expected to provide 55,000 new work-integrated (WIL) learning opportunities for post-secondary students across Canada in 2026-27.

Since its launch in 2017, SWPP has provided more than 250,000 WIL opportunities for Canadian students, allowing students to build skills through on-the-job learning and providing employers with essential new talent.

Renewed funding for SWPP is reflective of Prime Minister Mark Carney's calls for Canada to invest more, as SWPP has proven to be a worthwhile investment in Canadian businesses and the country's future workforce. According to participant surveys:

• Each SWPP hire created an additional $400 in value per month for their employer
• 99.7% of employers felt that offering the work placement benefited their company
• 78.6% of employers stated they would consider hiring the student for future employment
• 94.4% of the students were satisfied with their work placement experience

Canada is also currently facing a youth unemployment crisis, the effects of which will potentially be felt far into the future if our government, post-secondary institutions, and employers don't join together to act now. With renewed funding, SWPP will continue to give employers the incentive and tools to bring on new talent and equip students with future-ready skills in vital sectors.

A vital lifeline for employers and students

Magnet has served as a SWPP delivery partner since 2019, facilitating 42,000 student placements for students across Canada, with 50 per cent of placements going to students from underrepresented groups.

According to Mark Patterson, Executive Director of Magnet, "In the last five years, Canada has faced multiple disruptions, including the COVID-19 pandemic, the ongoing shift in economic relationships, and the rise of new technology." Patterson adds, "In 2020, SWPP served as a lifeline by allowing employers to continue hiring new talent and maintain productivity. We are especially proud of the program's reach, as it provided opportunities for students in all provinces and territories. As new disruptions loom, SWPP remains a proven model for building a resilient and skilled workforce in Canada and for supporting its small businesses."

Launched in 2017, SWPP offers employers up to $7,000 in wage subsidy support when they hire an eligible post-secondary student. Applications are currently being accepted for the Fall 2025 term. Employers can learn more here.

About the Student Work Placement Program (SWPP)

The Student Work Placement Program (SWPP) provides wage subsidies to employers across Canada to create work-integrated learning opportunities for post-secondary students. The program is delivered by Employment and Social Development Canada (ESDC).

About Magnet

Housed at Toronto Metropolitan University, Magnet is a centre of innovation focused on the future of work.

As a centre of innovation, our mission is to transform the future of work through strategic collaboration and the development of digital solutions. We leverage a vast network of partners and harness cutting-edge technologies to address emerging workforce challenges, fostering a more inclusive and dynamic economic landscape across Canada.

Magnet's Student Work Placement Program is funded by the Government of Canada.

SOURCE Magnet

Media Contact: Florence Rousseau, Magnet - Director of Marketing & Program Advancement, [email protected]