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Hayne commission ‘hits job openings’

Work opportunities in the financial and insurance services sector declined almost 10% last year compared with 2017 on the Sunsuper Australian Job Index.

It was the worst-performing industry, apparently taking a hit from the Hayne royal commission on industry misconduct.

“The royal commission and its aftermath seem to have an ongoing impact on employment demand and career opportunities in the sector,” Chief Economist Brian Parker said.

“The only comfort... is that demand started to stabilise in the [December] quarter of last year, suggesting the worst may be over and some rebuilding may occur in the year ahead.”

Overall permanent job opportunities gained 11.4% on the index last year, lifted by a 1.7% increase in the December quarter.