Households’ expectations have adjusted as well; weak growth of labour demand has translated into concerns over job security. In turn, concerns over job security and labour market conditions have led to a decline in the rate of employee resignations which, in spite of an increase in the rate of dismissals, has seen turnover in the labour market decline a little.
Labour supply Labour market outcomes also depend on the supply of labour. Like labour demand, growth in labour supply has slowed substantially over the past year or so. This reflects both cyclical and structural influences. The slowing in the growth of labour supply is evident in the rate of labour force participation.