What was Joe Hockey’s famous advice to young people who want to buy a house? “Get a good job that pays good money.”
Underemployment refers to people who are currently employed, but would like to work more hours. Youth underemployment applies to people between 15 and 24 years of age.
Put simply, there are more young people in Australia now who want more work but can’t find it than ever before.
The figures are from the somewhat disappointing ABS employment statistics for February, released today.
When it comes to full-on joblessness, youth unemployment currently stands at 13.3% in seasonally adjusted terms, which is more than double total unemployment across the population.
And it’s worst among young men: 14.5% of males between 15 and 24 are unemployed, while for females the figure is 11.8%.
That gives you almost 280,000 Australians between 15 and 24 who want a job but can’t find one.