Youth Unemployment as a Social Issue Research Paper Assignment

Assignment Task

Slide 

1. Overview

Today, we have chosen youth unemployment as a contemporary social issue. We are going to cover the definition of unemployment, causes behind increasing youth unemployment in Australia, labour market regulation, and mismatch of labour market in Australia, effect and social impacts of youth unemployment, policy intervention, and programmes by Australian government and after this we would give a conclusion about this topic.

2. Introduction

• The United Nations defines youth unemployment as young people between the ages
  of 15 and 24 who are looking for work but are unable to do so.
• From 1978 to 2023, the youth unemployment rate in Australia averaged 13.22
  percent, with a high of 20.10 percent during the month of October 1992 and a low of
  7.10 percent in the month of July 2022 (Hossain et al. 2022).
• Indigenous people In Australia had double the unemployment numbers as non-
  Indigenous young Australians (Singh, 2018).

Speaker note: Unemployment is a societal concern since it creates enormous agony for unemployed employees due to little or no income. Unemployment may result in fewer social trips and contacts with others, including friends. With a significant increase in unemployment, people may resort to greater criminal and violent conduct in order to fulfil their economic requirements.

3. Causes behind increasing youth unemployment in Australia

• While accounting for only 14% of the workforce, younger folks endured 55% of the
  employment losses during the 2021 lockdowns (Aph.gov.au, n.d.).
• Australia's unemployment rate has climbed from 3.4% to 3.7%, as rising interest rates have slowed job growth more than experts predicted (Carvalho, 2015).
• Rural students, along with Aboriginal and Torres Strait Islander students, have worse educational outcomes and much less access to postsecondary education than the national average.

Speaker note: The epidemic has had a disproportionate effect on younger Australians. This issue has exacerbated decades of young underemployment and joblessness. According to the federal government, the need for young workers will be quite high during the next five years. Changes in the labour economy significantly impact young individuals, since they face shorter and more unpredictable working times.

4. Labour market regulation in Australia

• In Australia, the “employment law and labour rights system” is heavily regulated, and
  firms must cope with multiple overlapping levels of regulation.
• The labour market is plagued by two major issues: a supply problem and a quality
  problem (Junankar, 2015).
• In March 2019, “Tasmania and Western Australia” had the highest youth unemployment levels, with 6.6% and 6.2%, respectively (Hossain et al. 2022).

Speaker note: Throughout the last 40 years, the Australian labour market has changed
dramatically. Some studies have indicated that nations with tight EPL also have high rates of youth unemployment, but there's not much convincing evidence of this association. Minimum wages are frequently shown to have a major impact on young employment. Australia39;s fastest-growing businesses all come within the travel umbrella.

5. Labour market mismatch

• Low-entry salaries, low-quality work, and the spread of non-standard union contracts are all plausible causes of high young unemployment and low-quality employment in Australia.
• It has been discovered in the gap between formal education-acquired knowledge and labour-market-required abilities.

Speaker note: Several causes for youth unemployment are advanced by “microeconomic theory”, even though they are not limited to the youthful population. The “concept of human capital” distinguishes individuals based on their investment in training and education and causes some of the inequalities in performance between youngsters and, more broadly, between cohorts. Young individuals with little training and expertise will have a more difficult time finding work.

6. Effect of youth unemployment in Australia

• Long periods of unemployment are associated with lower incomes and financial stress(Brewer, 2013).
• In 2019, the unemployment rate in Australia was 5.15%, while the poverty rate was 10.6% (Aph.gov.au, n.d.). As the unemployment level rose to 7.5% in 2020, this rate rose to 13.3%.

Speaker note: Youth unemployment in Australia has resulted in dissatisfaction and low self-esteem, which can increase certain young people's susceptibility to drugs, sickness, and criminality. According to Gilroy et al. (2017), unemployment decreases self-esteem and fosters feelings of externality and powerlessness in young adults.; Long-term unemployment" reduces the effective workforce pool and boosts the overall expense associated with social.

7. Social Impacts

• Early-career unemployment is associated with recurrent unemployment.
• Unemployment generates a vicious circle in society by causing problems such asilliteracy and poverty, and so on.
• Having so many younger generation people out of the workforce damages the
  economy by 790 million wasted labour hours every year, which equates to up to $16billion in lost GDP to the Australian economy; (The Foundation for Young Australians, 2020).

Speaker note: Unemployment is a societal hazard because it undermines social justice and exasperates social dissatisfaction by growing the divide between the haves and have-nots. Indigenous Australians frequently confront complicated and multifaceted job hurdles. New approaches to engaging with Indigenous Australians are required to boost their job chances in light of the future of employment. Continuing labour market reforms may worsen Indigenous Australians; employment disparities. In 2016, they had labour-force participation rates that were around 20% lower than the non-Indigenous populations.

8. Policy interventions by the Australian Government

• ReBoot, a new pre-employment programme for individuals between the ages of 15 to 24, will get $47 million in government funding over 4 years (Gilroy et al. 2017).
• Help for unemployed youths through "active labour market programmes (ALMPs)"
• The Australian Government has engaged in a trial of a location-based employment services concept in the "Indigenous community of Yarrabah in Northern Queensland.

Speaker note: In recent times, Australia has implemented a variety of policy approaches to young unemployment. These include measures like encouraging and assisting young people beyond the age of 16 to complete their education, and also strengthening the qualifying standards for social assistance. The Australian Government is committed to increasing Indigenous employment.

9. Intervention programmes

• The NSW Government is intrigued by social impact investment ideas that would
  assist disadvantaged adolescents in transitioning into long-term employment.
• Putting in place a National Workforce strategy; to guide workforce policies across the government (Hossain et al. 2022)
• Reviving recovering businesses and assisting priority sectors
• Workforce Australia one-stop destination for job aid, is being launched.

Speaker note: The NSW Government is primarily interested in initiatives that would fill gaps in present service delivery and blended training, job, and personal skills programmes for particularly disadvantaged adolescents. These initiatives should support and expand on current "NSW and Federal Government programmes. Interventions to combat teenage unemployment will invariably include collaboration between the provider and other members of the community, including local companies, nonprofit and government organisations, and Registered Training Organizations," among others.

This Arts and Humanities has been solved by our PHD Experts at My Uni Paper.