With a supposed unemployment of 5% now considered notionally a full employment rate - the "Labor" government had felt it acceptable to raise the future age pension age to 67. That was purely driven by the fact that the large taxpaying Baby Boomer population is now hoping to retire. Their taxes helped keep many of their their parents alive with new subsidised medicines - and they themselves except to live longer than their grandparents. Though superannuation is failing to fill the life expectancy gap - they will have to wait longer than age 65 if they were born after 1950.By 2013 there was even talk of raising the aged pension to 70 (as it will be 67 before long)
The International Monetory Fund, that is still advocating currently slashing jobs and wages in Europe - is now aiming to link aged pension entitlement to increases in "life expectancy". Of course, few jobs exist for the over 50's, let alone the over 70's. The corporate media like to run the odd story about some someone still working when they are 80 - but that would only be someone who owns their own business. With housing shortages and high rents in main capital cities, epidemics of granny dumping are sure to follow.
Meanwhile, students are being expected to work part time to supplement their meagre Austudy - as well as study full time and do unpaid work "placements". This is lowering the education standards in Australia and discouraging foreign students to spend expensive $A to come here. America apparently is becoming a better prospect for those international students wishing to learn English language as well as get a degree. Cost of housing for students near the big city based universities is also a big problem.
Students though at least have the option to move to regional universities. The jobless are cut off the dole if they move out of unaffordable cities like Sydney. That supposed "hippie" dole law was brought in by by the the Hawke/Keating Govt - and extended by the Howard Govt. While Labor and Liberal governments now talk about the Baby Boomers moving to the country (tree & sea changers) in their retirement, the jobless won't be able to easily move there to work in service industries the boomers will need there.
As usual, the major political parties are just not thinking beyond the two or three years of the electoral cycle - to prepare for what's coming up over the horizon.