A new report from The Foundation for Young Australians (FYA) has revealed young people will be the hardest hit under a new future of work, as the economy and labour market undergo significant changes over the coming decades.
The report The New Work Order: Ensuring young Australians have skills and experience for jobs of the future, not the past, highlights the way we work will be increasingly affected by three key economic drivers:
- Automation, with smarter machines performing a growing number of traditionally human tasks
- Globalisation, where technology platforms are making it possible for workers around the world to do jobs from remote locations
- Collaboration, through which we will see an increasing number of people engaged in flexible work with a range of employers to generate an income
While these changes present some positive opportunities for young people – such as lower barriers to entrepreneurship; more flexibility in ways to source income and wider markets to access employment – the report also found significant risks, including rising inequality, unemployment and insecurity which young people are likely to bear the brunt of.
FYA CEO Jan Owen AM said the findings confirm the urgent need for a comprehensive national investment in young Australians, to ensure the next generation is prepared for the economy of the future and equipped with the tools to drive it.
“Australia is already facing the challenge of an ageing population and the subsequent shrinking workforce and if our nation is going to overcome these challenges, young people must be given the opportunity to drive the economy forward,” Ms Owen said.