RC doesn’t shake industry’s hiring intentions

The Royal Commission doesn’t seem to have dampened the industry’s hiring intentions, with the finance, insurance and real estate sector showing its highest employment intent since 3Q12.

ManpowerGroup’s Net Employment Outlook found that hiring intentions for the sector stood at +21 per cent for the fourth quarter of 2018, well ahead of the national average of +13 per cent.

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“While many have expected the finance industry to have a more subdued outlook as it continues to process the findings of the Royal Commission, the data suggests the industry is preparing for significant changes that require an increase in headcount in order to manage new compliance obligations while maintaining a competitive position in a rapidly changing sector,” Manpower said.

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All the new jobs will be in compliance. Australia is now a compliance driven economy. Let's see how that pans out in the longer term.

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