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Why rising youth unemployment demands our urgent attention
29 April 2014 | Ken Henry | Executive Chairman, Institute of Public Policy, Crawford School at Australian National University
I believe there is a special case for taking an interest in youth unemployment. It is concerning that more than one-third of the unemployed people in Australia are aged 15 to 24.
In the 14 years leading up to the global financial crisis in 2008, youth unemployment had been trending down. It fell from more than 380,000 (seasonally adjusted) in October 1992 to less than 160,000 in August 2008.
Today, the number of those aged 15 to 24 who are unemployed has climbed back to around 260,000. Strikingly, this is more than the total number of people, of all ages, who are employed in the state of Tasmania.
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