In 2012, Australian workers in a permanent full-time paid job with leave entitlements were more than half, which is 51.35 percent. Just recently, for the first time in statistical history, full-time jobs fell to 49.97 percent of all employment in 2017, imposing an enormous threat to the economy. The Center of the Future Work published the alarming finding of the growing insecurity of work in Australia.
The report, The Dimensions of Insecure Work: A Fact Book, reviews eleven statistical indicators of job stability over the last five years. The indicators are part-time work, short hours, underemployment, casual jobs, marginal self-employment, and jobs paid minimum wages under modern awards.
The report says that the result of a combination of weak labor market conditions, aggressive profit strategies by employers, and inactivity of labor regulators is a decrease in all indicators of job stability since 2012. The decline lead to less than half of Australian workers have access to “standard job” or full-time jobs.
The findings also indicated that Australian workers under 30 fell 42.5 percent in 2012 to 38.9 percent in 2017. Dr. Jim Stanford, director of the Centre for Future Work, said that young people are “giving up hope” in finding a permanent full-time job. Dr. Standard noted that if these trends continue, many of these young people will never find a full-time position.
The research also documents the wages received by workers, where earnings of permanent full-time workers have grown, and wages for casual workers have declined. While earning of part-time workers in marginal self-employed positions have declined the worst, falling 26 percent.
Dr. Stanford said that because of current labor market conditions and lax labor standards, employers could hire workers on a “just-in-time” basis, where workers are only employed when and where they are most needed and then dismissing them afterward.
These alarming trends impose significant risks and costs on workers, their families, and the whole economy. “If we let that become a reality, the consequences for family stability and household finances and home ownership … are going to be enormous,’’ Dr. Stanford said.