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Parents are increasingly providing financial support to their adult children. At the same time, it is often taking young people into their 30s to convert educational credentials into career outcomes, establish independent households, and marry or form partnerships. While the role of the so-called 'bank of mum and dad' in assisting with entry into home ownership is well established, its effects are potentially far wider, for example affecting young adults' employment pathways. This article contributes to emerging research on extended intergenerational support using longitudinal data from Australia to explore which young people are receiving this support during their 20s and into their early 30s. Drawing on our findings, we contend that financial transfers as people enter their mid-20s and beyond appear to be used both to manage hardship and precarity, and to enable speculation on positive employment futures. [ABSTRACT FROM AUTHOR]

The COVID‐19 crisis has brought into sharp relief the precarious employment situation of young people, precipitating a raft of academic and public claims of an unprecedented crisis that has disrupted young lives. Our study contributes to research on youth labour and transitions with new longitudinal empirical analysis. Our analysis challenges the "newness" of the precarity highlighted by COVID‐19, focussing on employment. It draws on longitudinal mixed methods data from a research project tracking the transition to adulthood of young Australians. We make use of the concept of liminality to analyse the labour patterns for this group of young adults for the past 5 years. While we acknowledge the impact of COVID‐19 on young people's lives, our analysis reveals a precarisation of labour conditions for a significant proportion of participants that precedes the pandemic crisis. We conclude that the tendency in some youth research and in public discourse, to depict contemporary events as heralding "new" crises for young people, obscures the deeper structural arrangements that continually position the young to take the brunt of social and economic policies. [ABSTRACT FROM AUTHOR]