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Yesterday’s ABS labour force release for January revealed a mixed outcome for Australia’s youth labour market – i.e. those aged 15 to 24 years old – with annual jobs growth falling, and unemployment and underemployment near record highs.
The trend headline unemployment rate rose further to 11.91% in January:
Total employment growth for those aged 15-24 years was just 0.8% in January, and has dived over the past year, badly under-performing the rest of the labour market (2.3% growth):
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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.