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This keynote paper was presented at the National Centre for Vocational Education Research (NCVER) 1998 conference: Industry training outlook '98, held in Sydney, from 12-13 October 1998. It looks at job insecurity as a key issue in modern Australia especially as it relates to two groups who have been significantly disadvantaged by the impact of globalisation and the rise of economic rationalism. These groups are: middle-aged men who have been retrenched; and young people. It is argued that the impact of changes in work patterns over the last decade have been profound and long-lasting, and that perhaps it is time for a major qualitative research project that could be used by social planners and policy makers to assist them in addressing these complex societal changes.