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ARCHIVED: Youth Facts and Stats

Expected earnings, 2004

The inaugural Australia and New Zealand Graduate Careers Survey 2004, conducted for The Australian newspaper, is based on face-to-face interviews with 7,404 final-year students. In Australia, 5,361 students from 12 universities and in New Zealand 2,043 students from four universities took part in interviews in May 2004. Students were asked about their backgrounds, expected levels of debt on graduation, work experience, social lives, and career aspirations:
  • The average expected earning five years into full-time employment was $74,800.
  • 62% of students expected to own their own home by the time they were 30 years old,
  • 53% thought they would be married, and
  • 32% expected to have children.
  • One in 10 Australian students will graduate this year, with more than $40,000 in debt.
  • One in five works more than 20 hours a week to support themselves during their final year at university.
Source: The Australian newspaper.

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Youth Allowance 1999–2001

Youth Allowance is paid to eligible young people aged 16 to 21 who are unemployed, and to young people aged 16 to 25 who are undertaking full-time studies or a combination of approved activities such as part-time work and part-time study. A parental means test applies unless the young person is assessed as being independent.

Number of recipients June 1999–June 2001:

Year Full-time
students		 Other Total
1999 307,813 84,773 392,586
2000 309,366 82,408 391,774
2001 308,177 85,053 393,230

Source: Department of Family and Community Services 2003, Income support customers: A statistical overview 2001, Occasional Paper No. 7, March 2003, FACS, Canberra.Back to top

Young people's earnings, 2001

In 2001, the peak earning bracket for young people 15–19 years was $40–$79 a week.
For 20–24-year-olds it was $400–$499 a week.

Source: Susan Pitman, et al. 2004, Profile of young Australians: Facts, figures and issues, Foundation for Young Australians, Melbourne, pp.30–1 [viewed 17/01/2007].

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Superannuation, 2001

In 2001, compulsory superannuation coverage for 15–19-year-olds was low (42%) because many were either not working regularly or earned too little to be eligible for employer contributions. The median contribution for employees aged 15–24 of $27 reflected the lower incomes of this group.

The proportion of young employees making personal contributions was low at 2.7% for 15–19-year-olds and 8.8% for 20–24-year-olds.

Source: Susan Pitman, et al. 2004, Profile of young Australians: Facts, figures and issues, Foundation for Young Australians, Melbourne, pp.30–1 [viewed 17/01/2007].

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Rent assistance, 2003

Number of Youth Allowance recipients who received rent assistance in June 2003: 88,653
Average rent assistance paid per fortnight: $59
Average rent paid per fortnight: $199

Source: Australian Bureau of Statistics 2004, Year Book Australia 2004, cat. no. 1301.0, ABS, Canberra, Housing chapter [viewed 17/01/2007].

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Sources of income, 2003

The Australian Democrats' Youth Poll 2003 found that 52% of respondents were predominantly reliant on their parents or family for income. The survey was of 15-25-year-olds in all states and territories.

28% of the respondents derived their primary form of income from employment (compared with 20% in 2002).

16% of respondents received Youth Allowance, and 2% received other Social Security benefits.

Source: Australian Democrats [n.d.], Youth Poll 2003.

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Youth money management skills survey, 2002

Number of young people interviewed (14-21) who:

...say they manage their own finances: 4 out of 10
...have saved at least $1000 in past year: 1 in 5
...are saving for something special: Two thirds
...have superannuation, credit card, insurance or shares: 1 in 5

Number of 14-17-year-olds who work part-time: one third
...18-21-year-olds: half

A national survey by the Commonwealth Bank elicited information about money management from 713 young people aged between 14-21 years. Results revealed a high level of usage by the young people of financial services, with 87% of 14-17-year-olds and 96% of 18-21-year-olds having at least one savings account.

Source: Commonwealth Bank media release, online 30/07/02 [viewed 17/01/2007].


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