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
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
