Workers are changing jobs less often. Here’s why that matters for the economy

Disobey Art/Getty Images The share of Australian workers who change employers in a given year has decreased a lot. In fact, this rate has more than halved since the 1970s, according to official statistics. Why is this, and does it matter? We explored this in a recent paper. It turns out the decline is actually smaller and more recent than official statistics suggest. Demographic change explains the decline in the years before the global financial crisis in 2008. In particular, young workers…