Youth unemployment still rising

Yesterday’s ABS labour force release for November revealed that Australia’s youth unemployment rate – i.e. for those aged 15 to 24 years old – continued to rise despite solid growth in jobs.

The headline youth unemployment rate rose 0.1% to 15.6% and remains three times higher than the rest of the labour market (5.2%):

However, youth jobs rose by 21,900 versus a 68,100 increase in jobs across the rest of the labour market, with youth jobs still 86,100 below their March pre-COVID level:

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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.