We live in a time of major change. COVID-19 has radically affected Australia’s labour market.
That’s the message from the first report issued by the National Skills Commission, under Interim Commissioner, Adam Boyton (pictured).
The Commission’s report, entitled A snapshot in time: The Australian labour market and COVID-19, states:
“We have seen an unprecedented fall in employment, a dramatic drop in hours worked, a significant increase in underemployment, a record number of people leaving the labour force, and job vacancies falling to the lowest level in over a decade. Young people and women have been disproportionately affected, some industries have fared better than others, and capital cities have generally felt the impact more deeply than regional areas.”
Most significantly, loss of employment has hit young people and women. The shock to Australia’s employment market results: