YOUTH UNEMPLOYMENT UP AND UNDEREMPLOYMENT CONTINUES TO CLIMB
22 Mar 2018
The latest labour force figures from the Australian Bureau of Statistics (ABS) show a sharp increase in the youth unemployment rate along with further growth in underemployment under Malcolm Turnbull and his Liberals.
The youth unemployment rate jumped from 12.4 per cent to 13.3 per cent, with 290,300 unemployed young people. This is the highest youth unemployment rate since November 2016.
This is a concerning figure and yet the government’s only plan to help young people is to pursue its exploitative youth jobs PaTH program.
With the unemployment rate rising to 5.6 per cent, there are now 41,400 more Australians lining the unemployment queue than when the Abbott-Turnbull Government was first elected.
The persistent challenges of underemployment and low wages growth continue under Malcolm Turnbull. The latest quarterly data demonstrates the total number of underemployed people remains far too high with more than 1.1 million Australians wanting more work but not being able to find it.
Coupled with the number of unemployed, there are more than 1.84 million Australians who can’t find work or can’t find enough work.
With too much insecure work, stagnant wages growth and skyrocketing cost of living pressures, Australians are feeling the pinch. Turnbull and his Liberals have failed to acknowledge these challenges, let alone come up with any policy initiatives to deal with them.
They have no plan to help workers - instead Turnbull and every member of his government support reducing workers’ take home pay by cutting their penalty rates.
The Government should be getting on with the job of addressing the challenges and persistent problems in the labour market, rather than giving a tax cut to millionaires, a tax cut to big business and a tax increase for workers.