Declining Job Mobility in Australia: How to Navigate the Job Market

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Declining Job Mobility in Australia: How to Navigate the Job Market

Discover the latest trends in job mobility in Australia as it returns to pre-pandemic levels for the first time in three years. Learn about the factors influencing job stability, the challenges in securing employment, and practical advice for navigating the current job market.

1. Current Job Mobility Trends

For the first time in three years, job mobility in Australia has decreased, returning to pre-pandemic levels. In the 12 months leading up to February 2024, only 8% of employed Australians changed their employer or business, down from 9.5% last year. This trend affects various demographics, with slightly higher mobility rates among women compared to men, reversing a decade-long trend of higher mobility rates among men.

2. Factors Influencing Job Stability

Maiy Azize from Anglicare Australia attributes this decline to economic factors such as rising interest rates and the cost-of-living crisis.

Demographic Insights: Younger workers, particularly Gen Z (15 to 24 years old), are more mobile compared to those aged 45 to 64, and those 65 and over.
Flexibility Trends: Despite a general decline in job changes, older age groups still show slightly higher mobility than before the pandemic. The job market is becoming more flexible, with more Australians taking on multiple jobs due to remote work options and cost-of-living pressures.

3. Employment Challenges in Today's Market

Unemployment remains a critical issue, with up to 1.9 million Australians seeking work in 2024. The primary challenge said by up to 82% of job seekers is that there were “too many applicants for available jobs”. Other than this, there has also been an insufficient work experience and ill health, or disability challenge.

4. The Call for Entry-Level Jobs

Anglicare Australia emphasises on the need for more entry-level job creations to address these employment challenges. They highlight a significant decrease in such positions over the past decade, advocating for targeted job creation to support long-term unemployed individuals.

5. Addressing Underemployment

Underemployment also persists, with nearly half of part-time workers preferring full-time hours. Strategies for navigating the job market include prioritising job stability, enhancing skills, active networking, exploring multiple income streams, and staying informed about economic trends.

6. Practical Advice for Navigating the Job Market

Prioritise Job Stability: In uncertain economic times, it may be beneficial to prioritise job stability over frequent job changes. Assess your current role’s long-term potential and how it aligns with your career goals.
Enhance Skills: Continuously improving your skills can make you more competitive in the job market.
Network Actively: Building and maintaining professional relationships can open new opportunities. Attend events, join groups, and use platforms like LinkedIn to expand your network.
Explore Multiple Income Streams: Given the rise in flexible work and part-time opportunities, consider diversifying your income sources.
Stay Informed: Keep abreast of job market trends and economic forecasts

For more detailed insights and information, you can read the full report on the ABC News website

Whether you’re seeking employment tips or looking to hire, at Australiance we are here to help you satisfy your needs!