A report released today by the Productivity Commission that reveals young people entered the COVID-19 crisis earning low wages and with limited savings points to the urgent need for the Morrison Government to adopt a national jobs plan, says the ACTU.
The report finds that low wage growth has disproportionately impacted young people, and led to them losing a decade of income growth.
Coming into the pandemic, young people were already at an economic disadvantage. Since the beginning of the pandemic, young people have suffered the largest increases in unemployment and the biggest fall in jobs.
The Morrison Government must deliver a national economic recovery plan to save and create jobs for young people, or risk an entire generation being devastated by the economic effects of this pandemic.
As noted by ACTU President Michele O’Neil:
“We know what’s needed is for the Government to lead and urgently intervene in the jobs market, otherwise young people will suffer the effects of this recession their entire working lives.
“Australian unions have put forward a jobs led economic recovery plan to help steer the country through the next stages of this crisis and provide a lasting legacy in the society and economy.
“Young people need support from Government. They need the Government to step up and invest in their future.
“Only the Government can deliver a national economic recovery plan to begin to rebuild our economy. Time is running out – working people can’t wait.”