Youth unemployment hits 13-year high

Thursday 6 November 2014

Yesterday’s Australian Bureau of Statistics’ (ABS) labour force data for October provided little relief for Australia’s youth, with unemployment for 15-24 year-olds hitting fresh 13-year highs.

The trend unemployment rate for those aged 15 to 24 years old hit 13.8% in October (from September’s upwardly revised 13.7%) – the highest youth unemployment since November 2001 – compared to 4.7% unemployment for the rest of the labour market (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.