A report from AMP and the National Center for Social and Economic Modelling has found that young people have been hit hardest by the slowing jobs market.

The report, Work It Out, shows the unemployment rate for 15 to 19 year-olds has skyrocketed from 16.6 per cent in September 2008 to a horrifying 27.1 per cent in September this year.

The report also identifies the worrying statistic that while only 3 per cent of degree-qualified Australians in their early thirties are working as sales assistants, more than double of those aged in their twenties (7 per cent) are likewise working in an industry outside their area of expertise.

Paul Sainsbury, chief Customer Officer for AMP, called the report results “quite staggering.”

“It’s a tough environment,” he told reporters, “for many young people looking to get their foot on the career ladder.”

The report revealed that more than three quarters of people aged 15 – 19 are employed part time, while 28 per cent of those over 20 have secured part time work.

Many people in these age groups may be working part time jobs by choice; but many more are not. Having degree graduates working in areas other than they’re expertise is a sure sign of a tightening job market.

There are several consequences to this:

Treasurer Joe Hockey. Image: www.buzzfeed.com

Treasurer Joe Hockey. Image: www.buzzfeed.com

First, it shows the irrelevance of the federal Government’s Earn or Learn policy. Both parties, the earners and the learners are finding it difficult to crack the job market.

Second, this puts a greater strain on Centerlink and other unemployment benefit providers.

Third (and probably most vitally), there is a flow-on effect to society, where unemployed and often embittered youth react to their situation in ways that harm us all.

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