Youth underemployment rockets to all time highs

Following last week’s labour force figures for August, I posted an article showing that unemployment for Australians aged between 15 and 24 had risen to 13.8% in trend terms – the highest youth unemployment rate since November 2001 (see next chart).

I also showed that total employment growth for those aged 15-24 years of age has been more or less negative since the Global Financial Crisis (GFC), whilst the rest of the labour force has experienced positive growth (see next chart).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.