New research details the devastating impact of the COVID-19 economic recession on people aged 15 to 24, ABC News reports.
Youth unemployment hit a 23-year high of 16.4 per cent in June.
Even at 15.6 per cent in October, that’s still higher than the peak of our last downturn, the global financial crisis of 2008-09.
Compounding the problem, the rate of under-employment (people needing more hours) has overtaken the jobless rate, and most new jobs being created are in part-time, casual or insecure work such as gig work.
“This year, youth unemployment has really spiralled out of control,” said Conny Lenneberg, executive director of the Brotherhood of St Laurence.
Between February and May, the start of the coronavirus crisis, the number of young people with full-time jobs fell by 10.1 per cent.
That’s three times the rate (a fall of 3.3 per cent) for people aged over 25.
The anti-poverty organisation’s annual Youth Employment Monitor spells out how young people faced the double whammy of less-secure work while working in industries most affected by lockdown and social distancing restrictions like hospitality, retail, gyms, entertainment and tourism.
Between February and May, the start of the coronavirus crisis, the number of young people with full-time jobs fell by 10.1 per cent.
That’s three times the rate (a fall of 3.3 per cent) for people aged over 25.
FULL STORY
One in three young Australians is unemployed or needs more hours, and the trend could last a decade (ABC News)