Young Australians Are Taking Longer to Find Full-time Work Than at Any Time This Century

It’s time for a shift in perceptions around the workforce.

The Melbourne Institute of Applied Economic & Social Research has just released its Household, Income and Labour Dynamics in Australia Survey (HILDA) for 2021.

There are some interesting findings, to say the least. The HILDA shows that young Australians are taking longer to find full-time work in the years leading up to COVID-19 than at any time this century.

With other startling facts, like graduate earnings being in decline, the biggest take-away of all is that the workforce is truly changing. And this is affecting young people in particular.

Alongside our own recommendations, we chatted with Rick, a PhD candidate in industrial relations at the University of Sydney, to get some expert insight. Here’s how to practically and mentally cope with what these findings mean for young people.

If you’re struggling to find work, consider transforming a hobby into your own business.

“Gig work”. “Side hustles”. You’ve probably heard all these buzz words before.

If you have a strong skillset in a particular field, think about how you could potentially monetise it.

Can you design super cool digital graphics? Start a freelance design business. Are you crafty? Sell some of your products on Etsy. Are you academically gifted and good at teaching other people? Start a tutoring business.

Student Edge has produced content with people like Byron Dempsey who champion being self-made and entrepreneurial. You can check out some of his content here.

It’s important to note, though, that transforming a hobby into work might not be the best option for you. Be careful not to denigrate something you truly enjoy into a chore or let the economic dependence cause stress. It’s all about balance.

You can learn more about finding your side hustle mindset through Student Edge Plus!

Ease mental stress by reframing how you think about success.

Peers, school, and the media feed us certain visions of success which may be causing you psychological distress if you want something different.

The HILDA confirmed that 30 per cent of respondents aged 18 to 25 feel psychological distress. This has increased by 41 per cent since 2007.

Rick gave some advice for young people who are looking to define what their path is and who may be facing external pressures.

“We are often told what accomplishment looks like: making money, having a family, retiring, hustling, giving back to the community, spending time with friends, getting work done efficiently, etcetera. But success is not a box-ticking exercise that should be outlined for us.”

“I would encourage (young people) to think deeply about how they as individuals think about success—what does it look and feel like to them?”

Student Edge Plus has a course dedicated to forging your own path and figuring out your future without meeting other people’s expectations. You can check that out here.

Take advantage of resources already available to you.

One of the key findings from the HILDA is that young adults are living longer with their parents, as house prices continue to rise.

This doesn’t have to be construed as a bad thing. If your circumstances allow you to continue to live at home, take advantage of the decreasing negative stigma towards this.

In terms of making money, it’s a good idea to look towards the digital future. Rick mentioned things like NFT’s and crypto as examples of digital initiatives that the world is rapidly taking up.

You can use the internet to your advantage, by offering freelance work, building your own portfolio, getting in contact with people from the other side of the world, or even creating online content.

Make the most of the networks you are in, the skills you have, and the technology available to you.

We’re in an era of astronomic change and young people can be the pioneers (no pressure)!