With the cost of living pressure, young people in Australia struggle to secure full-time work and own homes.
Around 465,000 young people aged 15-24 were in low-income households in 2017 and 2018.
Listen to the full episode below:
On today’s Briefing, we speak to Alison Pennington, an economist, media commentator, and the author of Generation F’d, about how the most educated generation in Australia’s history looks set to be the first generation worse off than their parents.
Pennington described generation Y as generation F’d because the loss of economic opportunities and short-term thinking pulled the rug out from future generations.
In the book, I pieced together all the threads of the loss of the economic opportunities that young Australians face, particularly focusing on jobs and housing,”Pennington said.
If you look at the combination of what’s happening, we have got young people who are far more likely to be in lower paid, insure work, jobs that make it hard to build a life out of”,she said.
Pennington said the tax system in Australia was not sustainable, and it favoured the “ultra-rich”.
I think there is a very strong effort right now to airbrush out the rich factor. We saw that with the superannuation debate when the government said we would reduce concessions for people over three million dollars.”
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