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Yesterday’s ABS labour force release for December revealed that Australia’s youth unemployment rate – i.e. for those aged 15 to 24 years old – fell sharply on the back of a sharp fall in the participation rate.
The headline youth unemployment rate fell 1.7% to 13.9% but remains more than 2.5 times higher than the rest of the labour market (5.2%):
Youth jobs rose by 4,400 versus a 45,700 increase in jobs across the rest of the labour market, with youth jobs still 81,700 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.