Future looks bright for upbeat job market
The prospects of finding a job in the financial services and insurance sector are looking increasingly rosy, according to the latest Morgan & Banks job sur-vey.
Morgan & Banks Australasia chairman Geoff Morgan says the survey reveals the most buoyant job market since his group started doing these quarterly reviews in April, 1985.
The survey of 3,146 employers across Australia found that the financial services and insurance sector is extremely optimistic about the future with 45 per cent of its
The prospects of finding a job in the financial services and insurance sector are looking increasingly rosy, according to the latest Morgan & Banks job sur-vey.
Morgan & Banks Australasia chairman Geoff Morgan says the survey reveals the most buoyant job market since his group started doing these quarterly reviews in April, 1985.
The survey of 3,146 employers across Australia found that the financial services and insurance sector is extremely optimistic about the future with 45 per cent of its employers intending to hire new staff - a rise from 40 per cent in the previous survey released in February.
The number of companies looking to downsize remained the same at 12 per cent.
Morgan attributes the sector's buoyant job market to increased market confi-dence, a buoyant economy and strong growth in value-added services.
He expects these factors to continue, but says areas of potential concern in-clude the improving value of the Australian dollar and the possibility of eco-nomic volatility elsewhere in the world.
Morgan says: "Jobs in this sector will be plentiful for core accounting or fi-nance roles, sales professionals and computer or information technology special-ists."
However, he says there will be a lack of positions on offer for human resource
professionals in financial services due to the drive to give them a more strate-gic role within organisations.
Queensland and Western Australia experienced the largest gains in hiring expec-tations for the second quarter of 1999, compared to three months ago, while Vic-toria and ACT showed declines.
The survey found that the financial services and insurance sector has employment prospects that are well above the all industry average. Nonetheless, the legal, advertising and telecommunications sectors emerged as the most vibrant areas for job hunters at present.
Ends
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
