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Essay on the implications of unemployment for youth in australia
Youth Unemployment: Causes And Effects
Youth unemployment australia essay
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Having a university qualification is more important than ever, but it has never provided less of a guarantee against job insecurity or even unemployment. Recent research into the Australian labour market has shown that holding a university degree is far from a guarantee of employment in a job that actually requires a university education. Various authors have estimated that anywhere from 20% to 45% of male university graduates and 17% to 38% of female university graduates are under-utilised in the Australian labour market with regard to their level of education-specific human capital, insofar that their levels of education exceed the requisite levels required to perform their jobs. These studies, along with a body of similar research conducted …show more content…
Indeed, youth labour market conditions deteriorated significantly at the onset of the Global Financial Crisis in September 2008 and have struggled to recover since. From February 2014 to February 2015, the level of youth employment decreased by 0.9%, while the level of youth unemployment increased by 13.3%. Against this backdrop, the youth unemployment rate has also risen, from 12.4% in February 2014 to 13.9% in February 2015. Youth accounted for 29.8% of the long-term unemployment pool in February 2015, well above the 22.6% recorded in September 2008.
This has lead to many more Young people increasing their participation in education and studying longer if they have been unable to secure employment in a difficult economic climate, in an attempt to improve their job prospects for the future when labour market conditions eventually improve. To illustrate, youth participation in full-time education has risen from 47.2% in September 2008 to 51.8% in February 2015, the equal highest rate on record. Having a university qualification is more important than ever, but it has never provided less of a guarantee against job
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Among the reasons for this is Australian companies’ access to funding which, while not as easy as the US for example, is still ranked fifth within the G20 countries. The country comes second in education and training, and half of those surveyed by EY said they saw an improvement over the last year in entrepreneurspecific courses at universities and business schools. With regard to tax and regulation aimed at encouraging entrepreneurialism, Australia comes eighth, and 15th on co-ordinated support. The report shows that it takes only two days to set up a business in Australia, against a G20 average of 22 days. However, there are still improvements to be made. 69 per cent think students need access to specific training to become entrepreneurs, a reversal in sentiment from 2011, when 64 per cent said they didn’t think training was required. And as the investment in mining wanes in Australia, successful entrepreneurial businesses will be more important than ever for future job creation and the sustainability of the Australian
The real problem, according to Bruni, is that a college education is now far less likely to result in gainful employment. While statistics suggest that the rate of unemployment for college graduates is far better than for those with only a high school education, Bruni argues that these statistics
Unemployment is on the rise and, always trying to be avoided. By obtaining a degree, the chance of being out of work is reduced. Baum, Ma, & Payea (2013) claim, “The 2012 unemployment rates for 25- to 34-year-olds were 9.6% for those with some college but no degree and 7.2% for those with associate degrees” (p.20). With just an associate's degree, the chance of being unemployed plummets 2.4% compared to those compared to little college, proving when the higher of a degree is obtained, the lower
A majority of people believe that graduating from college will result in a well-paying job. Unfortunately, a degree will not secure a job for many graduates. In the U.S., the jobless rate for college graduates in 2012 was 7.7 percent, and has further increased in the past five years(Robinson). With such a large pool of unemployed citizens for employers to choose from, recent graduates are facing fewer opportunities for work due to little or no previous work experience(Robinson). Although many graduates are faced with unemployment, the majority do receive the opportunity to work. Sadly, many must work jobs they do not enjoy for salaries that make it difficult to make ends meet(Debate). Students are faced with mortgage-sized debts upon graduation, making it difficult for them to start businesses, buy cars or houses, or make other investments that would better the
College is the place where people go to retain the necessary training for a job that requires specific skills, which results in earning a higher pay check. In today’s world, employers are scouting out for individuals with the proper dexterities to fill the shoes for that specific job. Blanche D. Blank, the author of “A Question of Degree," argues that possessing a degree of higher education isn’t the only way to have a very successful life. This statement is highly argumentative, due to the fact that college graduates still out-earn people without degrees. Obtaining a college degree is one of the best things someone can do for themselves, when it comes to looking for a stable job. There is also so much more to college than just receiving a
Rodney K. Smith’s mere opinion of his publication is that children with a higher level are more like to secure a job rather than those with no or little education. His view is upheld by the statistics of bureau that gives a clear statistics of the percentage of the salary earned by students with higher education and that of lower education. This makes his claim more reliable and credible because the bureau of labor and statistics is a reputable institution in the United States that deals with the percentage of people who work in United State. Smith’s own personal anecdote appeals to the feelings of the audience in which it ignites them with feelings of possibility.
Over the past years, getting a college degree has been the pathway to a settled career. College has been a reason for people to carry on after high school. Now that tuition has been raised, getting a degree seems to drain students with more loans and could be in debt. College has been raised to the point where people rather start working at a minimum wage than continuing with school. Working in a part-time job would be an easier choice rather than pursuing a degree.
If more people went to college, and less went the vocational route, jobs will take a momentous hit. Today, companies will not even touch an application that does not include a Bachelor’s Degree; even if the Bachelor’s Degree has nothing to do with the job being applied for. Attention is not given to whether the hopeful applicant qualifies for the job; all that matters is that the applicant has a Bachelor’s degree. Murray best sums up the American job market when he says, “Employers do not value what the student learned, just that the student has a degree” (Murray). However, if less people obtain a Bachelor’s Degree, employers will be forced to base applicants on their skills, and abilities. Furthermore, important vocational jobs that lie vacant will be filled. Good electricians, carpenters, and construction workers will always be in
Also the unemployment rate is affected by jobless college graduates, especially seeing how they had a very large debt. Student debt is almost identical to the terms of inflation-adjustment. Data from the Economic Policy Institute shows the solution to all of economy’s problems. This is supported by a research group that argues over the solution of education to all. College graduates suffer from weak growth in the economy. The richest households share a disproportionate amount of growth. In addition, the hourly wage for college is a big topic that is looked at for students. For example the wage has only increased by a small percent and along with a lifted pay gap, which has declined for many. People tend to have a different point of view. For example, living can become a struggle, but you can receive a good job. Some say that college is supposed to be very easy seeing how someone can easily make your way into becoming a person who earns a nice amount of money in their life because they chose to go to college. In addition, people slightly tend to either agree or disagree if they should go to college. This sometimes happened because they didn’t believe that sending their kids to college was worth four years
It makes their family’s life become tough. They raise a question that why not letting these students go to work instead of this worthless education. As what is mentioned in the article “College degree still worth the investment, data suggest”, the author Mary Beth Marklein shows many evidences to support her main idea that the college education is still worth to invest because it can give college graduates higher wages. She showed the audiences a data, which pointed out that college graduates earned generally 56% higher that people who only have a high school diploma in the past four years. The author also said, “From 1982 to 2001, bachelor 's degree holders earned an average 80% more and associate 's degree-holders almost 30% more than workers with no more than a high school diploma”. The similar contents are also presented in the article “Median Salary Up Two Percent for Higher Education Professionals”. The author insists that the higher degree you get, the higher salary you will earn. In other word, it’s the truth that the college students might have heavy loans when they decided to go to college, but they
Shierholz, Heidi. "The Class of 2013: Young Graduates Still Face Dim Job Prospects." Economic Policy Institute. Economic Policy Institute, 10 Apr. 2013. Web. 20 Nov. 2013.
By attending college, students guarantees themselves a better job that the average Joe. Because the world is changing rapidly, and many jobs rely on new technology, more jobs require education beyond high school. With a college education, an individual will have more jobs from which to choose. In addition to obtaining a better job, people who go to college usually earn more money than those who do not. College furnishes you with proper credentials and documents to land high-level jobs. Figures from an A&E television program on ‘The Working Class’ show that in 2004 the average earnings were $23,895 for a high school graduate and $41,478 for individuals with a bachelor’s degree. Getting a college education is simply a stepping stone in ensuring yourself with a good start in life. Some may agree that college students are open minded and knows exactly how to expre...
In John Cassidy’s article, he states, “About seventy percent of all high school graduates now go on to college, and half of all Americans between the ages of twenty-five and thirty-four have a college degree” (Cassidy 2). With that reality, the business world becomes much more competitive for jobs, and it comes down to whether a person has a degree or not. College should be thought of as a prerequisite for the growing jobs of the economy today. Next, college is worth it because it can provide a better life and make more money. According to economists studying the effects college has on a career path, “Once you enter the labor market, the theory says, you will be rewarded with a better job, brighter career prospects, and higher wages” (Cassidy 2). More options in life means more opportunity, and while some may be able to obtain a job more quickly than others, college will almost guarantee a job opportunity. Finally, college unlocks the true potential of everyone, including displaying a person’s characteristics or talents. According to the end of John Cassidy’s article, “Providing access to college for more kids from deprived backgrounds helps nurture talents that might otherwise go to waste” (Cassidy 5). Although it could be just for deprived kids, the same applies for all students. College helps students find themselves, and being on their own will make them broaden their horizons. Overall, a college degree has a lot of importance
...ing and Youth Labour Markets: A Cross-National Analysis IN: Blanchflower, D. and Freeman, R.Youth Employment and Joblessness in Advanced Countries. Chicago: University of Chicago Press.
Unfortunately, there are many Americans out of work in today’s current declining economy. Unemployment can be defined as a person who is out of work involuntary, not by choice. These people are looking jobs and available to start work. Being unemployed can be disheartening and deciding what the next step is can be challenging. Underemployed can be described as being inadequately employed, such as a low-paying job that requires fewer skills than one possess. (Daly, Hobijn, and Kwok 2015) Making ends meet can be difficult for one who has been affected by this economy over the past few years. America still has a high unemployment rate since the decline of the current job market. And many Americans are struggling to establish the skills needed for employment, or the underemployed are force to lower they skill to make a profit. America’s economic status has force the underemployed and unemployed to make ends meet with the current jobs available. And last but not least some have also utilized these difficult times to venture into new discoveries to make life hassle free. So, we wonder is Americans giving up in today’s economy or do they settle for lower end job to establish a steady income to make ends.
The Benefits of Higher Education states it perfectly, “After spending many years learning, people tend to feel happier and more content as they lead educated lives…Consequently, education promotes fulfilling, fuller lifestyles” (¶ 6). The types of jobs a person will be able to acquire after a college education allow more freedom and security, as well as an improved intellect. The naysayers believe that people do not need a four-year degree to acquire a job, but how many good jobs with comprehensive financial benefits do not require a four-year degree? What quality jobs are in store for an individual when they are nineteen or twenty years old with no working experience? Those kinds of jobs tend to have lower salaries with longer work hours. Higher education not only gives students more opportunities but the skills and understanding that allow them to dig deeper into more difficult situations. “After a trip through the world of higher education, you will hopefully be the person who communicates effectively with others in figuring out solutions to complex problems. You will know to ask questions” (Carter ¶ 14). Receiving a higher education will help anyone narrow down their options and help them succeed with life’s constant challenges. Greater numbers