Collapsing immigration slashes youth unemployment

Yesterday’s employment report from the Australian Bureau of Statistics (ABS) revealed that the number of jobs across the Australian economy has fully recovered from COVID, rising 0.6% in the year to March:

Australian jobs have fully recovered their COVID losses.

Superficially, Australia’s youth – defined as those aged 16 to 24 – have largely missed the recovery, with the number of youth jobs still down 2.0% (39,700 jobs) on March 2020 – versus jobs growth of 1.0% (114,000) across the rest of the labour market:

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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.