This report presents a comprehensive picture of how young Australians are faring by bringing together data from a variety of sources and drawing on the comments of young people themselves. Overall the report presents a positive picture, showing how important young people are to this country and why it makes good economic and social sense for governments to invest in lifting outcomes for all young people. While the report shows that by and large young people are healthy, happy and productive, it also highlights some areas of real concern including: (1) Not all young people are on the same footing. Indigenous young people, those not engaged in education or work, young people with a disability and those living in low socio economic households are at serious risk of social exclusion; (2) 1 in 4 young people are living with a mental disorder and 1 in 3 young people experience moderate to high levels of psychological distress; (3) Almost 1 in 3 young people are an unhealthy weight (either over or under weight); (4) Male and female teenagers aged 15-19 years had the highest hospitalisation rates for acute intoxication from alcohol among all age groups; and (5) Young people are more likely to become victims of some violent crimes (including sexual offences and assaults) and are less likely than older victims to report a violent crime. The report also highlights emerging issues like the increasing risk that cyber bullying is posing to young people's wellbeing and underlines the important role that families, education and employment play in young people's development. (Contains 42 tables, 17 figures, and 80 footnotes.) [This report was produced for the Office for Youth, DEEWR and the Social Policy Research Centre, University of New South Wales.]