Job prospects in the financial services and insurance sector continue to brighten.
Job prospects in the financial services and insurance sector continue to brighten.
The latest quarterly Morgan & Banks Job Index shows that just over half (50.6 per cent) of employers in this sector plan to increase their net staff levels while only 11.3 per cent expect to downsize.
The net effect of +39.3 per cent is up 2.4 per cent on the last quarter and a whopping 15.3 per cent higher than the same quarter last year.
Morgan & Banks chairman Geoff Morgan attributes this increasingly rosy outlook for job seekers to the buoyant economy.
“People are buying things so they need finance and then insurance… and as they get more money, they are investing rather than saving,” he says.
He expects bullish conditions to continue into the new year and believes that the only potential dampeners could be a global stock market crash or an escalation of conflict in East Timor.
The survey found that the optimism among small businesses is up 14.4 per cent over the previous quarter. And, the net effect for large enterprises of +26.8 per cent is way above the national average for other large companies of 15.1 per cent.
Another finding is that the highest levels of optimism are in ACT, New South Wales and Western Australia while the lowest is in South Australia.
According to Morgan, WA is rebounding from a low base while ACT is benefiting from a real growth in private sector activity as well as developments like the GST.
