New CPI data today shows inflation remains high at 4.2% (in the 12 months to April 2026), which is further bad news for young people already facing high unemployment rates. Housing was a main driver of inflation which increased by 6.3% over the same period.
Youth unemployment is now at 11.1 per cent, the highest since October 2021, with economists warning of further rises.
Young people are being squeezed by the higher cost of living: Rising rents, higher supermarket prices, mounting HECS debts, and wages that don't keep up with inflation.
The Greens say Labor is failing young people and they need to stop being punished.
As stated by Greens spokesperson for finance, employment and workplace relations Senator Barbara Pocock:
"Young people are the canary in the coal mine in the labour market. They are the ones who are most vulnerable to inflation.
"Labor talked a big game on the budget but they over-promised and under-delivered for young people.
"With 40% of young renters in major capital cities spending more than 30% of their income on rent, they have little left for food, health, fuel or other essentials.
"Young people aren't causing inflation but they're being punished for a fuel crisis driven by corporate profiteering and the US-Netanyahu illegal war.
"Young people are more financially vulnerable to inflation because they don't have a buffer and have to fork out more money on the cost of living.
"There was nothing in the budget for renters. A temporary freeze on rent increases during the fuel crisis would help protect young people from inflation.
"The Federal Government must coordinate a national rent freeze and a ban on evictions during the fuel crisis to give young people doing it tough the security they need."
