Workers are changing jobs less often. Here’s why that matters for the economy

Job mobility in Australia has slowed dramatically. Per The Conversation, only one in thirteen workers switched jobs in the past year, compared to one in nine before the financial crisis. While job satisfaction has increased since COVID, younger workers are changing jobs forty-three percent less often than they did in two thousand eight—a troubling trend that could stifle innovation and entrepreneurship. The decline reflects a less dynamic labor market, driven by fewer new businesses, tighter competition, and widespread non-compete clauses that limit workers' options.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton