Banking and Financial Services sees labour growth

SEEK’s latest Labour Market Report has revealed a strong growth in the Banking and Financial Services industry, which saw a 17 per cent year-on-year (YoY) growth in the amount of job ads for the sector in February 2015.

The growth in the Banking and Financial Services industry was driven by a 28 per cent YoY boost in the amount of job advertisements in New South Wales, 26 per cent in Queensland, and 13 per cent in Victoria.

Analysis and Reporting saw the biggest jump in the sector, registering a 55.3 per cent YoY climb. Banking (corporate and institutional) came in second place with a growth of 44 per cent, followed by Compliance and Risk (42.6 per cent) and Funds Management (40.7 per cent).

Overall, the latest SEEK data highlighted a 3 per cent month-on-month drop in new jobs advertised in February, detracting from January’s 5.6 per cent rise. Nevertheless, the February results came in at 7.3 per cent higher than what was registered 12 months ago.

“The factors across the economy we’re seeing such as low interest rates and lower petrol prices are helping to maintain a degree of optimism in the employment market,” SEEK Managing Director of Employment and Learning Joe Powell said.

“Furthermore the recent historic high number of dwelling construction approvals is having a positive flow on effect to labour demand for supporting services. The rate at which these factors continue to support the labour market is unknown and something we continue to watch.”

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