Not learning or earning… what are youth doing?

2012-11-30

WHAT’S happening in the Australian labour market? Notwithstanding the fact that the overall rate of unemployment continues to record figures in the 5 to 5.5 per cent range – a range that is very low by the standards of most developed economies – there is a general feeling labour market conditions in Australia are much softer than the unemployment rate would suggest.

labourmarket tcm119-21769There are figures to back up the view the labour market is struggling to provide the number of jobs needed to meet a growing population at the previously recorded highest participation rate. This rate was recorded in late 2010, when the participation rate came close to 66 per cent of the population aged 15 and over. The current figure is a fraction over 65 per cent. In other words, there has been a significant fall in the proportion of the population actively participating in the labour market.

 

Source: The Australian

Picture: statistics.gov.uk

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