needs a credible plan to fix Australia’s stagnant economy if it is to make any meaningful progress in helping workers.
These results aren’t surprising, given the Australian economy has become less dynamic on so many metrics. Workers that switch to jobs that better match their skills get an 8 per cent pay bump on average. Switching to well-matched jobs gives a boost to reported mental health that is the equivalent of getting married .
We can help workers switch jobs by harmonising and reducing occupational licencing restrictions across jurisdictions, and reform inefficient taxes such as stamp duties to make it easier for people to relocate.
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