Thirteen per cent or one in eight people will be disengaged from full-time work, study or training for most of their lives.
There are enormous costs associated with not being fully engaged in work, education and training at age 24. Young people who fall into this group are less likely to develop skills and less likely to find meaningful and well-paid employment – missing out on educational opportunity sets a pattern of struggle throughout adult life.
Fiscal: For taxpayers, each disengaged young person costs $412,000 over a working lifetime. Across the cohort, this amounts to $471 million each year, or $18.8 billion over a working lifetime
Social: In social terms, each disengaged young person costs $1.1 million over a working lifetime. Across the cohort, this amounts to $1.2 billion each year, or $50.5 billion over a working lifetime