Log in or become a subscriber

New research shows workers who switch jobs voluntarily can expect an average pay increase of 9%, but despite a "record-setting labour market", Australia's rate of job-switching has only recently surpassed its pre-pandemic level.

The e61 Institute research paper shows the rate at which workers move between jobs has declined in recent decades, and despite a strong labour market, job switching rates have only recently risen to 9.5%, having sat at 8.5% in 2019.

It says younger workers and the lowest-earning workers are more likely to switch jobs than older or higher-earning workers. The largest beneficiaries are median-earning workers aged 21–34, who gain an average pay increase of $7,500 per year by switching; and wage gains are higher for workers in capital cities than they are for those in rural and regional areas. A worker earning the median wage in a capital city gained an average of $6,300 from a job switch, compared to regional workers who gained an average of $4,300...