The seasonally adjusted youth unemployment rate declined to 12.3 per cent in January, having been as high as 14.3 per cent in the fourth quarter of calendar year 2014.
It always pays to be wary about unemployment rate movements in individual months, but below are the smoothed trend figures for youth unemployment split by gender, which shows a steady improvement.
Quite apart from being critical to the quality of the lives and opportunities for young people, youth unemployment is an indicator worth watching.
Unfortunately, younger employees are all too often the first to be let go when the economy is taking a turn for the worse, something we have probably all witnessed at some point in our careers.
Younger folk are often the last be brought back to the party too when things are picking up, so the figures may be a lagging rather than a leading indicator for those looking for the green shoots of economic recovery.