This report tracks trends in decent work in Australia over time, how the dimensions of decent work have contributed to these trends, and how decent work varies by industry and demographics. The report puts forward a framework for conceptualising decent work.

This report suggests that decent work and precarious work exist on opposite ends of a spectrum and that decent work is multi-dimensional, consisting of dimensions of job security, work conditions, work stress and flexibility.

Precarious work can detrimentally impact market stability including through lower consumer confidence, reduced long-term productivity growth, rising social security costs and reduced tax revenues. These factors present risks to sustained economic growth and investment portfolio performance. Therefore, decent work should be considered an area of focus for large and diversified investors.

Key findings

• Across the Australian economy, three dimensions of decent work have improved – in general, jobs have become more secure, with better conditions and flexibility. 
• However, one dimension of decent work has declined, driven by an increase in work-related stress. 
• The benefits of decent work have not been experienced equally. The youngest and oldest cohorts of workers, people with lower levels of education and women all report experiencing greater precarity than comparative groups. 
• Young people have consistently experienced greater precarity relative to other age groups. While older Australian employees now experience higher overall precarity than all age cohorts except young people.