Tuesday, 16 October 2012

Employment of youths falls but rises for older workers


The OECD area employment rate – defined as the proportion of people of working-age who are employed – was 65.0% in the second quarter of 2012. This figure is 0.1 percentage point higher than in the previous quarter and 0.2 percentage point higher than one year ago but still 1.5 percentage points below the pre-financial-crisis level.
Australia has fared a little better than the OECD as a whole. Its second quarter employment rate of 72.5 per cent was well above the average and only 0.7 points less than it was back in 2008.
The OECD figures show that the biggest decline in the Australian employment rate has occurred among youth aged 15 to 24. There the 2008 rate of 65% has fallen to 60.1%. For those defined as being of prime working age - aged 25 to 54 - the decline has been from 80.3% in 2008 to 79.5% in the second quarter.
For older Australian workers the employment rate has actually risen - from 57.3% in 2008 to a current rate of 61.4%

EMPLOYMENT RATE IN OECD COUNTRIES
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EMPLOYMENT RATE BY GENDER
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EMPLOYMENT RATE BY AGE
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