Annual Employment Growth (%)
Employment in the Financial and Insurance Services industry includes banking, insurance and superannuation funds, as well as financial brokering services. Employment is concentrated primarily in capital cities, particularly along Australia’s east coast, with around 40% of the workforce located in New South Wales.
This workforce is highly qualified, with 77% holding post-school qualifications (compared with 65% across all industries). Almost all jobs are for Professionals, Clerical and Administrative Workers and Managers.
Reflecting the time it takes to attain the required qualifications, a small share of this workforce is aged 15 to 24 years old (just 5%). That said, Bank Workers is the largest employing occupation within Financial and Insurance Services and this role generally does not require post-school qualifications and can provide a pathway into the industry.
Sources: ABS, Labour Force (seasonally adjusted and annual averages of original data); ABS, Characteristics of Employment; ABS, Education and Work.