Insurance a bright spot in bleak jobs market
The finance, insurance and real estate sector has the strongest hiring prospects among seven industry sectors in the Manpower Employment Outlook Survey for the second quarter.
Employers in the sector report a net employment outlook of +18%, well ahead of the second-placed services sector on +13%.
Manpower MD Lincoln Crawley says low growth and weak consumer confidence, coupled with uncertainty about the leadership of the Federal Government, are causing many employers to “throttle down their hiring plans… or stop them altogether” over the next three months.
The finance, insurance and real estate sector remains a rare bright spot.
“The Financial Services Inquiry… [has] put a spotlight on insurance, financial advice and superannuation,” Mr Crawley said. “We’re seeing larger companies beef up their risk and compliance teams due to the increased focus on the sector.”