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Labor to give casuals new rights to full-time employment in move to improve job security
(www.theguardian.com)
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The 25% casual loading is calculated to take in notice of termination and redundancy pay too. Lots of people resign and fewer are made redundant, so wouldn't get notice or redundancy pay anyway. That means in most circumstances, employees are better off in a pure money sense as casuals.
The big downside is if things are quiet at work you aren't guaranteed any hours. As you mention, that also creates a hurdle when applying for loans.