The New Work Reality - latest report released.
The Foundation for Young Australians has just released the latest in its excellent series of reports on the future of work and its implications for young adults entering the workforce.
The research has revealed that staggering 50% of 25 years-old Australians are yet to secure full time work.
The report puts some hard evidence behind what employers and job seekers already know and see - far fewer young adults are able to secure full time jobs than was the case 30 years ago, and more are studying full time well into their mid-20s.
This is a massive under-utilisation of our nation's future talent. The report's executive summary makes some stark observations about the impact of these trends on the self-esteem and well-being of young adults.
Young Australians are well educated and keen to secure full time work. So what can be done?
The report identifies the need for young adults to develop new 'enterprise skills' (such as problem-solving, communication and teamwork) but it also identifies the importance of young people being given opportunities to engage in paid employment in relevant future-focused jobs.
The report found that combining studying and working in a job that is within an industry relevant to a persons career aspirations can speed up to transition to full time work by as much as 12 months.
It sounds simple, but too few universities offer work-integrated learning and too few companies seem willing to create opportunities for students to undertake paid employment.
There are massive social and economic dividends to be unlocked by employers offering work opportunities to young students. Our company has seen the benefits of taking on students as part of our growth, and we will continue to do so in future.
Read the report here.
Read the other FYA reports here