Australia: Fewer Australians seek job opportunities

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Large numbers of workers are still open to new jobs, but there are fewer employees on the hunt for a new role than late last year.

  Fewer Australians seek job opportunities © Provided by Crikey

Around 19 per cent of workers are considering leaving their job, according to NAB analysis, down from 22 per cent last quarter and 23 per cent in the final quarter of 2021.

The pandemic is broadly considered the trigger for a period of high employee turnover around the world, often referred to as ‘The Great Resignation’.

The NAB survey also found an uptick in the number of workers with no plans to change jobs, with 34 per cent of workers content in their role compared to 31 per cent in the final months of 2021.

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Young workers were the most open for change, with 24 per cent of employees aged 18-29 interested in a new challenge.

Workers in mining and agribusiness were more open to a change of job than people working in other industries, with 34 per cent of mining staff interested in a change compared to 28 per cent in the first quarter of this year.

People working in property and recreation and personal services were the least likely to be interested in a new job.

While Thursday’s labour force figures revealed the lowest unemployment rate in 48 years, employment also fell by 41,000 when a 25,000 boost was expected.

The fall in the participation rate due to winter illness, floods and school holidays partially explained these results, although some noted the pace of inflation and interest rate rises could be reflected in the fall in employment.

The NAB survey also found many workers felt they wanted more time in the workplace rather than at home.

Workers typically spend about 34 per cent of their work week at home but would prefer spending half the week in the office or other workplace.

Commute times remained the key reason people were working from home, with catching COVID-19 becoming less of a concern .

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China's jobless youth left in the lurch .
China's slowing economy has left millions of young people fiercely competing for an ever-slimming raft of jobs and facing an increasingly uncertain future. - Slim prospects - Analysts blame a slowing economy crippled by Covid lockdowns, as well as the large cohort entering the labour force during the graduating season in July and August, for the slim prospects facing China's youth.Official data released this month showed one in five young people in Chinese cities was out of work in July -- more than three times the national average and the highest recorded since January 2018.

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