New Zealand's youth unemployment rate has surged to nearly 20 per cent – one of the highest levels in almost 20 years.
Organisation for Economic Co-operation and Development (OECD) figures for the September quarter last year showed 19.4 per cent of Kiwis aged between 15 and 24 were unemployed – the 15th-highest rate of 36 OECD countries.
New Zealand youth unemployment hit a peak of 23 per cent in 1992.
New Zealand Institute of Economic Research principal economist Shamubeel Eaqub said the youth jobless rate was expected to decline this year as the economy rallied.
Young people were the first to suffer during tough economic times, and the high figure was "part and parcel" of the recession, Eaqub said.
Young workers had less skill and experience and were often in more vulnerable sectors, such as hospitality and retail.
"Often they're in the kinds of jobs where there is less job security, high turnover, lower wages and more part-time and casual hours," Eaqub said.
Student Job Search chief executive Paul Kennedy said a "big communication gap" between employers, universities and young people was hindering employment levels as youths were not trained or prepared for market needs.
"Universities are too focused on just providing degrees and not setting up young people for the jobs available," he said.
"Degrees used to guarantee jobs, but now it's almost a starting market requirement. Employers are more demanding."
Communication between the parties needed to be "dramatically improved", Kennedy said.
Between the third quarters of 2007 and 2010, unemployment among young Kiwis increased 8.2 per cent, compared with the OECD average of 5.3 per cent.
Fiscally troubled Spain had the highest youth unemployment rate of 40.7 per cent in the 2010 September quarter – one of seven countries with more than a quarter of its youths out of work.
Switzerland had the lowest rate of about 7 per cent. Seven other nations had rates of 10 per cent or less.
In the middle of 2010, the average OECD youth unemployment rate reached a post-1945 high of 19 per cent.
The OECD forecasts it will hit an average of 20 per cent this year before declining.
More jobs for Canty students
Earthquake-related roles have seen more student jobs available in Canterbury this summer.
Student job listings in the region are up 30 per cent on last summer after a higher national trend and a boost stemming from the September 4 earthquake.
Student Job Search (SJS) chief executive Paul Kennedy said Canterbury had a high number of building and engineering vacancies for quake work.
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Organisation for Economic Co-operation and Development (OECD) figures for the September quarter last year showed 19.4 per cent of Kiwis aged between 15 and 24 were unemployed – the 15th-highest rate of 36 OECD countries.
New Zealand youth unemployment hit a peak of 23 per cent in 1992.
New Zealand Institute of Economic Research principal economist Shamubeel Eaqub said the youth jobless rate was expected to decline this year as the economy rallied.
Young people were the first to suffer during tough economic times, and the high figure was "part and parcel" of the recession, Eaqub said.
Young workers had less skill and experience and were often in more vulnerable sectors, such as hospitality and retail.
"Often they're in the kinds of jobs where there is less job security, high turnover, lower wages and more part-time and casual hours," Eaqub said.
Student Job Search chief executive Paul Kennedy said a "big communication gap" between employers, universities and young people was hindering employment levels as youths were not trained or prepared for market needs.
"Universities are too focused on just providing degrees and not setting up young people for the jobs available," he said.
"Degrees used to guarantee jobs, but now it's almost a starting market requirement. Employers are more demanding."
Communication between the parties needed to be "dramatically improved", Kennedy said.
Between the third quarters of 2007 and 2010, unemployment among young Kiwis increased 8.2 per cent, compared with the OECD average of 5.3 per cent.
Fiscally troubled Spain had the highest youth unemployment rate of 40.7 per cent in the 2010 September quarter – one of seven countries with more than a quarter of its youths out of work.
Switzerland had the lowest rate of about 7 per cent. Seven other nations had rates of 10 per cent or less.
In the middle of 2010, the average OECD youth unemployment rate reached a post-1945 high of 19 per cent.
The OECD forecasts it will hit an average of 20 per cent this year before declining.
More jobs for Canty students
Earthquake-related roles have seen more student jobs available in Canterbury this summer.
Student job listings in the region are up 30 per cent on last summer after a higher national trend and a boost stemming from the September 4 earthquake.
Student Job Search (SJS) chief executive Paul Kennedy said Canterbury had a high number of building and engineering vacancies for quake work.
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