Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Job mobility ‘highest in a decade’ as data sheds light on why so many Aussies are changing employers
The Australian Bureau of Statistics (ABS) on Friday released their Participation, Job Search and Mobility report, covering the 12 months to February, revealing why so many Aussies are changing jobs, with the numbers now at their highest point in a decade.
Should SMEs pay a ransom demand from hackers?
The 2022 Data Breach Investigations Report by Verizon further emphasises the vulnerability of very small businesses. It reveals that these businesses are at a particularly high risk of facing malware, ransomware, brute-force attacks, and social attacks. The report even suggests that a single incident of a data breach can be catastrophic for these small businesses, potentially jeopardising their survival.
Why Aussies are ditching cash
New data by Reserve Bank of Australia has revealed that the number of Australians paying by cash has more than halved since 2019. Of the people who held cash in their wallet in 2022, the most important reason for doing so was for emergency transactions.
What makes a comfortable retirement?
It’s complicated ..one of the most difficult things in answering your question is working out what you mean by ‘comfortably retire’.
Micro-businesses hit hardest by staffing woes: Report
In a bid to shed light on the ongoing labour shortage struggles, Small Business Loans Australia commissioned a comprehensive research study. The findings reveal more than two-thirds of businesses grappling to find suitable staff, and among the most affected are micro-businesses.
‘Cracks start to appear’: Sign Australian economy running out of steam as recession looms
Recent months have brought news of an economy that is contracting in per capita terms and of a retail sector that is seeing the volume of actual goods sold declining, despite the most rapid population growth in decades.
Tradies say raising pension age “unfair” after a life of hard work takes its toll
Hardworking Aussies fear a decision to lift the pension age to 67 means they will be forced to work even longer in labouring jobs.
Gloomy forecast: Zero sales growth forecast for Aussie retailers
Australian online retailers are bracing for a challenging year ahead, as new research indicates that 90 per cent of them expect no sales revenue growth in 2023. The study highlighted challenges such as surging inflation rates, rising interest rates, and wage pressures, all of which are impacting consumer spending and demand.
The unemployment rate is staying low at 3.5%. But behind the scenes the jobs market is slowing
Slower employment growth, faster population growth and a steady rate of unemployment are the main stories from the Bureau of Statistics’ latest labour force update.
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