Perth hit by youth jobs crisis

The West Australian has today documented the youth labour crisis afflicting Perth:

Perth’s youth unemployment crisis is being exacerbated by the collapse of bars, restaurants and retailers across the city.

More than one in seven young jobseekers are desperate for work, with more than 32,000 under-24s unemployed.

Outgoing Chamber of Commerce and Industry WA chief economist Rick Newnham said there was “a clear link between unemployment and retail closures”. “It’s no surprise the State has nearly the highest youth unemployment rate in the country while some retailers can no longer stay afloat,” he said…

“In the last year alone 220 more employing retail businesses have closed their doors than have opened… “It’s no surprise the State has nearly the highest youth unemployment rate in the country while some retailers can no longer stay afloat…

In WA their absence — taking hundreds of entry-level jobs with them — has been compounded by the collapse of a string of local businesses.

Earlier this year, Premier Mark McGowan heroically vowed to create “at least” 150,000 jobs over five years:

The only way for WA’s labour market to rebound so strongly is for the commodity price boom to continue unabated, for mining and business investment to magically accelerate, for immigration into WA to magically accelerate, and for the state government to spend up big on infrastructure and services.

Given most of the above scenarios are beyond the State Government’s control, McGowan has set himself up for failure.

[email protected]

Unconventional Economist

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Latest posts by Unconventional Economist (see all)

Comments are hidden for Membership Subscribers only.