Generation Y witnessing strong salary gain
Generation Y were the first to suffer during the GFC with job growth being particularly subdued; however, according to the second MyCareer Employment Forecast Gen Y has recorded the strongest growth in the last two years.
Michael Emerson, Head Researcher of the MyCareer Employment Forecast said, "This cohort is now playing catch-up and is reaping good financial rewards. Their expectations are high as they seek a lifestyle with all the trimmings."
There are now 2.9 million workers in the Gen Y category. Full and part-time positions are growing, with full time roles up 2.5% and part-time employment options up by 1.4%.
Generation X is still the largest category with 4 million workers. Like their Gen Y counterparts wages and salaries have also been growing at a strong rate of 7.6%, well ahead of the Australian average of 4.0%.
Source: Recruitment Extra, December 2011 - January 2012
