Financial crisis hits young jobseekers

An economist says the global financial crisis has had a lasting impact on Australia's job market and has made it much harder for young people to find work.

An economist says the global financial crisis has had a lasting impact on Australia's job market and has made it much harder for young people to find work.

While Australia escaped a recession in 2008, the youth unemployment rate has doubled since then and is now at a 12 year high at 13.1 per cent.

Business lobby groups say young people are being priced out of jobs and they want penalty rates cut.

Bill Mitchell is a professor of economics at the University of Newcastle.

Greg Dyett asked him why young job seekers are faring so badly.

(Click on the audio tab above to hear the full interview)