Why Australians aren't switching jobs or starting businesses | The Business | ABC NEWS

By ABC News (Australia)

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People are less mobile, less dynamic and more risk-averse than they used to be, according to a series of economic indicators. In 1989, almost one in five people in the workforce changed jobs in a single year. The most recent data, for the year to February 2025, shows just over 1.1 million people changed jobs, meaning job-switching fell to just 7.7 per cent, or one in 13 people. Self-employment has fallen sharply to a 20-year low, according to research from the e61 Institute. Business strategist Kate McCready says there's a lot of fear in the workplace at the moment. Contributing to those fears are advances in artificial intelligence (AI), the uncertain global environment and a weakening jobs market. Another sign of decreased mobility is Australians are not moving interstate as much as they used to. The cost of housing and the risk involved in taking a mortgage, plus transaction costs such as stamp duty make it harder to move. "All of these factors point towards Australians bein

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