AUSTRALIAN YOUTH UNDEREMPLOYMENT HITS ANOTHER ALL-TIME HIGH!

WHAT a great start to life for our Family members, Scomo!

THIS from the ‘real estate hustler’:


“It is easy to stoke fears about foreign workers or anxiety about asylum seekers. That is not what this column is about. What, after all, is the threat? The exploitation of workers, legal and illegal, keeps prices down.”

We have people being awarded Australian visas due to “skills shortages” for cooks????? COME ON!

https://www.smh.com.au/politics/federal/migrant-underclass-arriving-with-dreams-ending-up-in-chains-20191017-p531o4.htmlREPLY

Youth underemployment hits another all-time high

By Unconventional Economist in Australian Economy

October 18, 2019 | 6 comments

Yesterday’s ABS labour force release for August revealed a mixed Australian youth labour market – i.e. those aged 15 to 24 years oldwith falling unemployment offset by a record rise in underemployment.

The trend headline unemployment rate fell slightly to 11.70% in September:

Total employment growth for those aged 15-24 years was dead flat in September, but has dived over the past year:

Employment for those aged 15-24 years of age rose by 1.2% in trend terms in the year to September, below the 2.6% for the rest of the labour market.

Full-time jobs growth was 0.6% whereas part-time jobs growth was 1.1%, with full-time jobs fading fast:

Youth labour force participation continues to recover but remains way below the pre-GFC experience, suggesting substantial hidden youth unemployment still exists:

Since the GFC hit 11 years ago, overall youth employment has risen by just 2.4% in trend terms, well below the 9.6% lift in the youth population over this time, and full-time jobs are down an incredible 17.2%.

By contrast, the overall number of jobs for the rest of the labour force has risen by 23.6%, with full-time employment up 19.3%:

Youth underemployment rose to a record high 18.2% in September, whereas underutilisation was a near record high 29.9%:

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

Photo: Flickr / Luis Garrido

SOURCE: https://www.macrobusiness.com.au/2019/10/youth-underemployment-hits-another-all-time-high/

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