Youth Unemployment

Youth Unemployment Ratios – July 2017

There has been sustained improvement in MOST/all of these labour markets since 2015. Absolute rates have fallen and the relative “harshness” experienced by the young, 15-24, has “softened”. Australia as a whole has worsened slightly, but Victoria has shown improvement against the National decline.

 

Youth Unemployment – November 2016

Youth unemployment remains a contentious and growing challenge for policy makers.  As detailed in the International Labour Organisation’s Key Indicators of the Labour Market [KILM] It is generally understood that Youth Unemployment runs at some-where between two [2] to three [3] times the base “adult” or “standard” unemployment rate. 

For the purpose of this indicator, the term “youth” covers persons aged 15 to 24 years and “adult” refers to persons aged 25 years and over.

2016 Regional Youth Unemployment Ratios

As of November 8th 2016, the latest Labour Market data [September 2016] suggests an easing in unemployment [generally, in 50% of regions] and Youth Unemployment [specifically] in Victoria. 

Youth Unemployment Ratios | December 2015 – September 2016

A Summary

In 2015, there were regions in Victoria where this ratio of “youth” to “adult” unemployment exceeded FOUR-TIMES [4] the adult rate and in one region [Geelong] it reached FIVE-TIMES the adult rate.

In 2016, we have seen improvement in twelve [12] of the eighteen [18] regions youth unemployment RATIOS.

Some notable “performers” include the Geelong region, showing a substantial decline in actual youth unemployment rates [down from 18% to single digits 8.9%] as well as a substantial decline in the Unemployment ratio, down 3.5 from a record 5 in December 2015  to 1.5 in September 2016. The Hume and Mornington Peninsula regions also show considerable improvement with their ratios down [respectively] by  -2.5  and  – 1.8

However, six [6] regions shown a decline or worsening in the Youth Unemployment “ratio”. Of note is Melbourne – South East, where even though the base rate for unemployment has improved, the Youth Unemployment ratio has risen from 2.0 in December 2015 to 3.2 in September 2016, suggesting a “harsher” or “hardening” labour market for the young.

Melbourne South-East region also shows the highest increase [2.7%]  in Youth Unemployment, now sitting at a Youth Unemployment Rate of 18.2%. The Melbourne North-West region also shows an increase of 1.7, followed closely by Latrobe – Gippsland with an increase of 1.3 

These regions appear to have “additional” impediments to young people achieving a pathway to work. 

2016 Regional Youth Unemployment Rates

 

2016 Regional Youth Unemployment

 

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