Data from the Longitudinal Surveys of Australian Youth were used to analyze the levels of participation in vocational education and training (VET) in Australian schools, the characteristics of VET participants, and their work and study activities after leaving year 12. Nationally, nearly one-fourth of the students studied participated in some form of VET while in school, including 7% who undertook VET in years 11 and 12 and approximately 1% who participated in a school-based new apprenticeship or traineeship. Factors associated with higher rates of participation in VET included being in the lowest achievement quartile, having a family from a non-English-speaking country, or living in a rural area and having parents with only a secondary school education. Postcompletion unemployment rates were similar for those who had and had not participated in VET while in school. VET proved a more likely pathway to the labor force than to further education and training. The study findings suggested that offering students a range of postcompulsory options and pathways that are suited to the different interests and needs encourages higher proportions of young Australians to remain in education and training. Descriptions of the sample and measures and the multivariate analysis procedure are appended. (Contains 31 tables and 29 references.)(MN)