Young people, many of who may be trying to enter the workforce for the first time, are usually disproportionately affected when the economy slows down. Relatively weak conditions in regional Queensland, which I discussed in my last post, have contributed to some very high rates of youth unemployment in particular regions, including Cairns, Townsville and Wide Bay. Both Cairns and Wide Bay have a youth unemployment rate (among 15-24 year olds) of over 20 per cent, compared with a State average of around 14 per cent, according to Queensland Treasury’s smoothed estimates of the regional ABS Labour Force data released last week (see Regional Youth Unemployment). I produced the map below of youth unemployment rates across Queensland using the Queensland Treasury estimates.
And here’s the close up for SEQ:
High rates of youth unemployment should mean that we seriously consider removing regulations that unnecessarily constrain job creation (e.g. trading hours and taxi regulations). And they also mean we should consider at least the modest reforms to penalty rates proposed recently by the Productivity Commission.
Hi Gene, this is a really serious, long term problem that has real world impacts on real lives. It demands serious, considered responses for both the individuals impacted and their families, and also society in general. Gene, while I understand your logic I am not sure if it’s a solution that will work in reality. One thing is for sure though. Townsville simply cannot afford a useless, white elephant super stadium in these conditions. We need to use our very limited capital wisely. Very wisely.
Thanks for the comment, NSSfT. I agree there would be better uses for the State Govt’s $100 million than the super stadium.