Archive for August, 2009

Generation Y is the most optimistic and positive generation, but the global recession means young people face a serious challenge which could define their generation – youth unemployment.  Boom times meant full employment and good wages but the latest job figures are especially sobering for young Australians.  Currently the youth unemployment rate is two and a half times the national average. And it’s first time job seekers (school leavers and uni graduates) that are most affected. And there’s concern that they will form a generation of unemployable youth even when times pick up.

12 months ago we all believed that this generation of young Australians were in a position to take it or leave it when it came to jobs. The onus was on employers to make teh psychological connection. Young graduates declined jobs because they didn’t liek the vibe, FaceBook was prohibited or there was no decent coffee shop nearby.  

Those days are gone. The Minister for Employment and Participation Mark Arbib last week stunned people by telling Australians teenagers not be so picky about jobs they didn’t think paid enough or weren’t cool enough.  

No matter how we look at the economy right now unemployment is going to get worse. Not as bad as economists predicted six months ago – more like 7.5% by late 2010. However that translates into another 300,000 poeple being unemployed – on top of the current 600,000. So a total on 1 million.   

To quote the Rolling Stones – for Gen Y it might be a case of – you can’t always get what you want but if you try you might just get what you need.

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Have the green shoots taken roots? The news today that job advertisements have stabilised is comforting to employees especially those who lost their jobs over the last 10 months or so. The Job Services Australia contract – established by the Australian government to help both long term unemployed and those people who have significant vocational and/or non-vocational barriers to employment, have in fact been inundated by people who have been unemployed for less than 4 months. This group of people far outweigh in numbers the more marginalised and disadvantaged members of the Australiansociety. They have a Centrelink job seeker id, are receiving benefits and are job ready. The news that the employment market may have turned will be good music to their ears. It will also be good for the Labour Hire and recruitment companies who have seen over half of their revenue and consultant staff disappear.

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