Financial services jobs see boost
Financial and insurance services jobs saw a 38% bounce back in June, according to Sunsuper’s Australian Job Index.
The index measured job advertisements, which overall rose by 9.4% in May and 10% in June, after its largest ever fall in April.
However, it still currently remained 40.3% below the level it was at the start of the year.
New South Wales saw the highest permanent decline in job opportunities (-32.4%) while Victoria had the highest all in contingent job vacancies (-33.8%)
Brian Parker, Sunsuper’s chief economist, said that while the improvements in job vacancies in May and June were a promising sign, the ongoing impact of the COVID-19 pandemic, including renewed shutdowns, made employers nervous.
“The reintroduction of restrictions in Victoria and the risk of renewed restrictions elsewhere means the recovery in the labour market remains fragile,” Parker said.
“Opportunities for both permanent and contingent employment still remain well below pre-COVID-19 peaks; however, the recovery over May and June has been somewhat stronger for contingent work.
“Permanent job opportunities rose by just 5.2% in May and a more encouraging 10.5% in June, yet the recovery in contingent demand has been stronger, with gains of 19.5% in May and 9% in June.”
AUTHOR
Chris Dastoor
Recommended for you
The ongoing adviser shortage is a key driver behind advisers’ increased use of ETFs and managed accounts, according to an industry expert, fuelled by the need for cost and efficiency savings.
A business consultant believes there is a proven correlation between advice businesses that develop and commit to a clear business plan and those that see higher profit outcomes, but only when done correctly.
Advice technology solution intelliflo has launched an integration with fintech firm FAYBL to introduce AI capabilities across the intelliflo office offering to boost efficiency.
ASIC’s court case with Interprac is causing advisers to explore the possibility of self-licensing, according to My Dealer Services, as they observe the reputational damage it can bring to a practice.
