Benefits of Sustainable Employment for Young People
19 Jul 2021
For young people, the decade following the Global Financial Crisis saw increased part-time employment, lower starting wages and, despite being more educated, less choice in occupational availability.
For many young people these conditions have been locked in ever since. The Productivity Commission found that many young graduates were forced to find jobs lower on the jobs ladder compared to their skills and this has affected their career progression with the transitions into better jobs just not occurring.
This has a spill over effect into the employment prospects of young people who have not studied and are likely from more disadvantaged backgrounds. They face more competition for the roles matched to their skill level, which increases their likelihood of becoming unemployed.
It is important to reverse these trends because employment has significant benefits for young people and the community. Sustainable employment can improve a young person’s health and wellbeing, help influence the development of healthier behaviours, improve confidence and social skills, and build positive relationships.
The sooner a young person engages in work their overall lifetime earning capacity increases. For the community, more working young people increases consumption and spending in a region, improves the standard of living, and ensures there is enough tax income to pay for essential services.