Social SciencesDemographyEconomicsIncome Support PolicyLabor EconomicsSocial DemographyHousehold EconomicsIncome DistributionPopulation AgingPovertyUnemploymentYouth DevelopmentDemographic Effects On GrowthSocioeconomic Determinants Of GrowthYouth DemographicsYouth Labour Market Participation
This study arose from concerns about income growth for young people (people aged 15-34). Young people's average incomes declined in real terms from 2008 to 2018. This 'lost decade' of income growth raises questions about how different sources of income have evolved, and why. It is likely that this negative income growth has been compounded by the effects of the current [Coronavirus Disease 2019] COVID-19 crisis. Young people's labour income has been hardest hit by high unemployment, and many young people are seeing their savings depleted. This study aims to explain recent negligible growth in the incomes of Australians aged 15-34, by identifying how incomes have grown across different demographic groups and by examining the determinants of income growth. This study suggests that there are no easy answers when designing policy responses seeking to support young people in the post-COVID-19 job market.