Finance jobs are growing the economy
Employment in the finance and insurance industries has been a key driver for employment growth over the past year, according to findings from the Australian Bankers Association (ABA).
The ABA Australian Jobs in Banking report showed that jobs in the finance sector often offered high reimbursement and good conditions, with banks alone currently employing close to 150,000 Australians, making it the 11th largest industry employer in the country.
According to new findings from the ABA, the resilience in the overall labour market was being driven strongly by job growth across the finance and insurance sectors, with employment growth rising 9.9 per cent over the year to May.
"Banks are an important provider of jobs in Australia, employing around 150,000 people," Pearson said.
"The most recent data of employment by industry showed that growth in finance and insurance jobs has been among the strongest, lifting 9.9 per cent over the year to May."
The ABA findings also showed that the finance industry had the highest share of workers receiving paid leave entitlements, while unemployment levels in the sector were around half of the national labour force.
"Data from the Workplace Gender and Equality Agency shows that 87 per cent of banks offer flexible working arrangements, compared to only half of all employers," Pearson said.
The report said banks had taken the lead in offering flexible working conditions and paid parental leave programs.
AUTHOR
Hope William-Smith
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