Youth unemployment falls to lowest level in 12 years
Latest workforce data shows more young Australians are in work, with almost 16,000 finding employment in April.
The youth unemployment rate has dropped 1.1 percentage points to 10.6 per cent, the lowest rate since January 2009 and one percentage point lower than in March 2020, before the pandemic hit.
There are now more than 1.9 million young Australians in work and pleasingly the number of 15-24 year olds in full-time employment increased by 23,600 in April.
The youth participation rate remains above the 68.2 per cent recorded in March 2020. Youth underemployment remains below the 19.2 per cent recorded in March 2020.
The Morrison Government is committed to getting even more young Australians into work through education, training, and employment programs.
The 2021-22 Budget includes:
- $2.7 billion to extend and expand support for new apprenticeships.
- $500 million to expand the JobTrainer Fund to deliver around 163,000 additional low-fee and fee-free training places over two years.
- $481.2 million to expand the Transition to Work program to help disadvantaged young people make the transition into work or further studies.
In addition, under the Government’s Job-ready Graduates package, there are more Australians studying at our universities than ever before and more studying the courses that are most likely to get them a job.
In addition to these supports to get young people into work, the 2021-22 Budget will continue Australia’s broader economic recovery through a further $15.2 billion in infrastructure investment and additional tax cuts for businesses and individuals.
The Government is backing young Australians by creating more jobs and rebuilding the economy to guarantee our COVID-19 recovery.