Continuing the theme of tight labour markets, new data show job mobility remains at its highest rate since 2012.

When labour markets are tight, workers can find it easier to switch jobs in search of higher pay, and they can be more confident about quitting work because they're likelier to find work elsewhere.

That's what we've seen over the last two years.

However, you'll notice that we're still a long way off the job mobility rates of the 1970s, 80s, and 90s.

There could be a number of reasons for that.

“Australia’s workers are more frequently changing jobs, taking advantage of Australia’s incredible jobs boom during the pandemic recovery,” said Callam Pickering, APAC economist at global job site Indeed.

"Job mobility is at a decade high although talk of a ‘Great Resignation’ remains inaccurate.

“In the past couple of years, job mobility in Australia has partially reversed a multi-decade trend towards reduced mobility. In the year to February 2023, 9.5% of employed people changed employer or business, unchanged from last year, and the highest rate in a decade”.

“But it is still well below what was common in the 1980s and 1990s. Australian workers today are more conservative in the job choice and more loyal to their employer than was common decades ago. It also suggests that the economy itself is less dynamic than it once was.”

“Job mobility is highest among younger workers aged 15 to 24. Almost 15% of younger workers changed jobs over the past year, compared with 11.2% of those aged 25 to 44 and just 5.9% of those aged 45 to 64.”

“With Australia’s population and workforce ageing, it is likely that job mobility will soon start to decline again. Older workers tend to be more cautious, prioritising job security over new opportunities.

"As a consequence, it may become easier for employers to retain existing staff but also more difficult to attract new workers from their competition," he said.