Millennials face carrying the biggest economic scars from the coronavirus fallout with fears over the lifelong impact on young people’s wages.
Key points:
- 11.8 per cent of jobs for those under 30 have disappeared since March
- Women are expected to face a higher rate of unemployment than men
- Graduates might land a job but it probably won’t match up with their skillset
The class of 2020 have officially graduated into Australia’s first recession in 29 years.
Since the pandemic’s peak in mid-March, 11.8 per cent of the jobs for those under 30 have disappeared.
The Grattan Institute estimates those aged 15 to 24 will be the hardest hit by the unemployment crisis, with women more at risk than men.
Elana Andrews-Marney received her Bachelor of Advanced Medical Science with distinction from Western Sydney University in the post a few weeks ago.
It was a much simpler affair than the usual pomp and pageantry of a graduation ceremony due to social distancing requirements.
In March, she was assisting on dementia clinical trials with a cognitive neuroscientist but when labs closed, she joined the millions of Australians out of work.
“Research with t