Hiring optimism for the finance and insurance sector is at its lowest level since the end of 2009, according to the latest survey from recruiter Manpower.

Net employment outlook dropped six percentage points from the previous quarter to +9% – the biggest fall in any industry.

The poll, which measures the intentions of 1900 Australian employers, found 17% across all sectors plan to increase hiring, 12% plan a decrease and 70% will make no changes – resulting in a net employment outlook of +6%.

MD Lincoln Crawley told insuranceNEWS.com.au that although finance and insurance had taken a major hit it was still “relatively strong” compared to the rest of the economy.

He says the Future of Financial Advice reforms, which become mandatory on July 1, were the biggest factor in the slowdown.

“People are going to have to be redeployed or roles will disappear,” he said. “The overriding view is that there will be a lot less people in that sector.”

He says all firms are currently cautious about investing in new talent “especially with the current political and economic uncertainty”.

“The latest Federal Budget revealed a significant drop in revenue and reflects a number of pain points in the economy,” he says.

“And with an election looming, many organisations are looking to later in 2013 to start planning.”