It has been reported that as many as five million Australians are considering finding a new job this year amid skyrocketing cost of living.
Data from employment site Indeed, reported that five and a half million people will likely look for new opportunities in 2025. Approximately 48% of respondents who said they are considering a new job, said this is because they are not keeping up with rising costs.
Another 34% said their response was based on their organisation not offering them a pay rise or promotion.
“Job seekers are saying the main reason they are leaving is around money and the cost of living,” Sally McKibbin, Indeed career expert.
Other reasons cited by employees for their departure included:
23% – Escape a stressful workload
22% – Not getting sufficient flexibility
20% – Desire to work with people they can call friends
17% – Avoid frequent after-hours contact
Hiring intentions in Australia
The latest report from ManpowerGroup shows Australia’s Net Employment Outlook is at 11% for the first quarter and that only 31% of employers plan to increase their headcount in the first part of 2025, while 18% expect a decrease.
The location with the strongest hiring intention was reported in the Australian Capital Territory at 24%, followed by Queensland with 15%.
“Indeed’s data signals a wake-up call for employers to reassess how they’re supporting their people, both financially and in terms of work-life balance,” McKibbin said.
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