Yesterday’s labour force data for July revealed some more good news for Australia’s youth, with unemployment for those aged 15 to 24 years old edging down to 13.5% – a continued improvement from the 17-year high of 13.8% recorded in October 2014. Unemployment for the rest of the labour market was steady at 4.6% (see next chart).
As you can see in the next chart, 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. However, since December 2014, employment growth has turned positive with a strongly improving trend (see next chart).
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