Jobs delay contributing to mental wellbeing
Anew report from Vichealth and Lateral Economics has found the delay in graduates finding full-time work is having a serious impact on their mental wellbeing.
The report also shows the delay is costing Victoria up to $100-million a year.
The average graduate takes 2.6 years to find ‘meaningful’ full-time work – up from just one year in 1986.
The report found the mental-wellbeing impact of this delay might potentially cause a cost to the Victorian community of between $60-million to $100-million a year into the future.
The report also found that up to half of these costs could be avoided by increasing support for young people’s mental wellbeing and social connection.
Key findings included – • The mental-wellbeing impact experienced by young Victorians by the delayed transition costs Victoria up to $100-million a year. This equated to a lifetime cost to the economy of $1.25 billion. • The avoidable portion of this cost was between $30-million and $50-million if the impact on mental wellbeing could be reduced. • Young Victorians also stood to lose up to an additional $130,000 of lost earnings – in real terms – during their lifetime • Due to increased rates of unemployment and under-employment, the under-use of young people in the workforce had increased from 19 percent to 30 percent during the past decade.
Vichealth chief executive Jerril Rechter said the report highlighted the large costs to Victorians associated with the devastating impact of unemployment and under-employment on young people’s mental wellbeing.
“This research shows the transition to full-time work is a really tough time for young Victorians, with many experiencing stress, anxiety and depression as a result,” she said.
“Gone are the days of walking straight out of university into a job being the norm. For most young people it now takes years of churning through insecure and often unpaid work before securing a meaningful full-time role.
“We can’t underestimate the impact this is having on young Victorians’ wellbeing now, but also over their lifetime.
“The great news is that there’s a lot we can do to improve the situation for many of our young Victorians.
“That’s why Vichealth is looking to work with a range of organisations, such as philanthropists, investors and corporates, to shape a more supportive environment for young Victorians as they start their careers.”
In response to the findings, Vichealth has been consulting a jury of young people on programs and policies they need to improve their mental wellbeing as they go through this delayed transition to work.
Conference in Melbourne
A second annual National NDIS and Mental Health Conference will be at Melbourne Convention Centre from October 31 to November 1.
The two-day conferences, presented by Community Mental Health Australia and Mental Health Victoria, will feature leading mental health and National Disability Insurance Scheme experts, consumers and cares for Australia and over seasons.
The conference theme is Mental Health Police, Practice and Reform: Getting It Right in a Time of Change.