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That suggests that changing industries led to "positive employment outcomes".

"They were generally hired into higher-skilled positions in more productive sectors," the report said, pointing to financial and insurance services, information and communications and professional services. Over the past ten years, more residents have moved into those sectors.

Nearly 60 per cent of 2024's industry switchers earned at least 5 per cent more after accounting for inflation, and around 20 per cent earned around the same amount.

The remaining 20 per cent saw their real income decline by at least 5 per cent.