YOUTH UNDEREMPLOYMENT HITS ALL TIME HIGH

Youth underemployment hits all time high

AS spelt out by Brendan O’Connor, Shadow Minister for Employment in an interview with Hamish MacDonald (midway 2018) with such high numbers of Visa Workers in Australia this has created disproportionate competition for jobs resulting in high youth unemployment and underemployment!

The workplace is oversupplied with overseas workers; many youth!

View: https://caanhousinginequalitywithaussieslockedout.com/2019/03/23/9555/

FROM a Commentator … and this spells out how ‘SH.T’ it is …

‘I have watched (from close on in) two public service selection exercises for non-ongoing (6 month, multiple positions) APS 2 (lowest you can go while being sentient) for base grade hauling files about a building in Geelong. Paying low 50s per annum.

Hundreds of applicants, a disturbing number with single (or even double) Masters degrees – which i dont think would be paid down for the salary on offer.

The applicants divide up into two basic types.

Type one is the 50+ years of age set. Often had a career making serious decisions, been made redundant, have often sold out of Melbourne and bought cheaper locally, and a low level gig is money for jam with no responsibility, living in vicarious semi retirement by the sea.

Quite a lot of these people have nothing more than VCE and a few Cert IVs.

The other subset is generally much younger – late 20s to mid 40s – who are often profoundly overqualified for the work (a disturbing number of dual masters – IT, Law, Science, Business/Commerce [I kid you not]).

They have often been priced out of living in Melbourne (and a surprising number from Sydney). In some cases they are applying straight out of Uni , or never having used their quals while working for 2-10 years in hospitality or retail as casuals/temps.

In a couple of situations they are applying for openly stated reasons such as:

‘I will at least get entitlements/Super paid’.

Often they have made a conscious decision that a low level grunting position is preferable to spending 2-4 hours a day in traffic trying to get to gigs in Melbourne.

Some of these guys are parts of couples/families trying to support mortgages and or kids, and of the rest every man and woman jack of them is renting (and being taken to the cleaners) or living with parents.

I have seen 3 people with obvious significant IT skills come away from service in the Navy and apply for this type of crud work, tell me ‘It’s all that is available’.

No wonder wages are going nowhere, no wonder GDP is going nowhere. No wonder consumers arent spending.

If this type of phenomena is happening on a broad enough scale in a broad enough number of places, the wonder I have is why there hasnt been a revolution yet – combined with wonder about just how ugly things will get if someone or something steps on the trigger.

Youth underemployment hits all time high

By Unconventional Economist in Australian Economy

September 20, 2019 | 

YESTERDAY’S ABS labour force release for August revealed a mixed Australian ‘YOUTH’ labour market – i.e. those aged 15 to 24 years old – with falling unemployment offset by a record rise in ‘underemployment’.

The trend headline (YOUTH) unemployment rate fell slightly to 11.80% in August:

Total employment growth for those aged 15-24 years rose marginally in August, but has dived over the past year:

Employment for those aged 15-24 years of age rose by 1.5% in trend terms in the year to August, below the 2.7% for the rest of the labour market.

Full-time jobs growth was 1.6% whereas part-time jobs growth was 1.0%, with full-time jobs fading:

The recovery in YOUTH labour force participation has accelerated but remains way below the pre-GFC experience, suggesting substantial hidden YOUTH unemployment still exists:

Since the GFC hit 10-plus years ago, overall YOUTH employment has risen by just 2.6% in trend terms, well below the 9.4% lift in the youth population over this time, and full-time jobs are down an incredible 16.9%. By contrast, the overall number of jobs for the rest of the labour force has risen by 23.3%, with full-time employment up 19.1%:

YOUTH UNDEREMPLOYMENT rose to a record high 18.4% in August, whereas underutilisation rose to a near record high 30.2%:

In short, the YOUTH labour market remains way oversupplied, despite the latest fall in headline unemployment.

Two hands holding a latte in a black cup and saucer.

SOURCE: https://www.macrobusiness.com.au/2019/09/youth-underemployment-hits-all-time-high/

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