Rising interest rates 'fuelling job hunter activity'

Wednesday 16 March 2011

Article by Mozo

With interest rates rising, increasing numbers of Aussies are searching for jobs or new employment possibilities, it has been claimed.

Interest rates 'prompting Aussies to hunt for new jobs'

This is the opinion of Dawn Tingwell, national sales director for CareerOne, who told News.com.au that research indicates Aussie workers are more dissatisfied than they were in 2008.

She noted this is not limited to a particular sector, but that evidence of the trend can be seen across a "broad range of industries".

"With interest rates and the cost of living on the increase, we are seeing a strong correlation between financial stress and increased job hunter activity," she observed.

The last change to the cash base rate by the Reserve Bank of Australia was in November 2010, when it was increased by 25 basis points to 4.75 per cent.

A survey by CareerOne found that 82 per cent of people would consider changing their job, while 37 per cent are actively seeking alternative employment.

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