While it is well known that under-25s are most likely to bear the brunt of job losses when furlough ends, older workers are vulnerable too.
Governments use a variety of labor market policies to support workers who lose their jobs – each with a different impact on a country’s well-being.
A high unemployment rate isn’t just bad for individuals without a job, and the costs aren’t just financial.
It’ll direct money to employers who actually create jobs.
Australia has tried it before, in the 1990s. The proportion of participants eventually getting unsubsidised jobs was low.
Young Australians, particularly young unskilled Australians, will scared by what’s about to happen for a decade or more.
We’ve 41,000 more long-term unemployed than would be expected given the unemployment rate. Something has changed.