The pace of the recovery in Australia is moving inconsistently, which is also casting effect on the jobs for the young people. The unemployment among the youth has mounted up to a significant level of nine-year-high.
As per the recent data released by the Australian Bureau of Statistics, in July, the youth unemployment rate surged to 18%, a noteworthy rise since October 2001. The jobless youths between the ages 15-19 climbed up to 152,000 from 145,000 in June.
The general overall unemployment rate increased to 5.3% in July, from 5.1% in the last month.
As anticipated by the analysts, the rise in the jobless rate signals that there would be less push for the higher wage rates, which would further reckon the Reserve Bank for not raising interest rates further in order to check the inflationary conditions.
Stephen Roberts, the Nomura International economist said, "It is interesting and worrisome that the youth unemployment rate has risen much more than the general unemployment rate over the past few years".
He further added that the condition of unemployment in young people should be compensated with the benefits of training programs or by providing some jobs to the youth.
Taking such an effort, Prime Minister Julia Gillard declared incentives for the jobless people, so that they can find suitable jobs. Also, penalties will be granted to those, who were devoid of job interviews.
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