Young people face employment fears for first time
Updated
For a long time Australia's Generation Y, people born after 1977, had no reason to be anything but optimistic about their prospects.
Boom times meant full employment and good wages. But the latest job figures are sobering - especially for young Australians. Youth unemployment for 15 to 19 year olds has now risen to its highest level since 2001 - at nearly 24 percent. And it's getting tougher and tougher for university graduates as well.
Presenter: Michael Turtle
Speakers: Taye Morris, Manager at The Careers Centre; Tim Cheng, Jo Duong, commerce students; Josephine Charbel, teacher
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TAYE MORRIS: So if you are thinking of applying, it's really good to actually go on and meet the employers...
MICHAEL TURTLE: Here at the careers service at the University of New South Wales students are getting advice in their quest for a job.
But no longer is it just about finding the right job. Now there's pressure to find one at all.
The manager at the Careers Centre, Taye Morris, says students know times are tougher.
TAYE MORRIS: From the student point of view, we are seeing an increase in demand for our careers services so we're really quite busy at the moment.
MICHAEL TURTLE: The University's annual careers fair later month will have 30 fewer businesses recruiting this year than the peak last year.
Tim Cheng and Jo Duong are commerce students and are hoping for good jobs in the finance industry but they know it's now less likely companies will be wooing them.
TIM CHENG: It does affect your thinking and also just opportunities that may also be abroad.
JO DUONG: Definitely, it is terrifying but employers are still looking for the same things so a good employee, they are still always looking for good employees which I suppose we are geared to build ourselves up towards.
MICHAEL TURTLE: For those already in the workforce, there are stresses that come with the uncertainty of the present economic climate.
Twenty-four-year-old Josephine Charbel is a teacher who is only on a short-term contract. Her school can't make her permanent as older workers are staying longer and women are coming back from maternity leave earlier.
JOSEPHINE CHARBEL: You do get stressed because you think what is going to happen next. You know people are predicting that this financial crisis is going to go on for a while.
MICHAEL TURTLE: Her temporary position makes planning for the future difficult.
JOSEPHINE CHARBEL: Financially, definitely one thing is not being able to go get loans, credit cards etc. Once they see the whole you know, contract one year, they kind of hesitate. So then you know, you are too scared to really go into any financial long term debt with anybody and they are not allowing it either so we are not getting that opportunity.
MICHAEL TURTLE: With youth unemployment on the rise and more than 70,000 teenagers currently looking for full-time work, Generation Y is starting to see how reality bites.
