Breaking News: New Report: Youth Futures Guarantee outlines 9 pillars to achieve a secure and prosperous future for young people. ABS data for February 2021 places the youth unemployment rate at 12.9% more than double the national rate. Youth underemployment rate at 16.8%. Youth Unemployment rate is down from its COVID-19 peak, but still higher than pre-pandemic levels. 40% of jobs lost due to COVID-19 were jobs held by young people.