Looking at the data by occupation, the rate of job mobility is lowest for managers and business professionals and highest for tradespeople and workers in the hospitality industry. Graph 10  In a tight labour market, we would expect to see either strong wages growth or frequent job changing as businesses seek out workers. But we are seeing neither at present.
One possible explanation for this is the uncertainty that many people feel about the future. This uncertainty means that if you have a job you want to keep it rather than take a risk with a new employer. This might be especially so if you also have a large mortgage.