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Regional industry information is available from the Employment Region and SA4 Region channels.

Financial and Insurance Services

Financial and Insurance Services employs approximately 433,600 persons (ABS trend data), full time and part time, which is around 3.6 per cent of the total workforce. Over the past five years, employment in the industry has increased by 2.3 per cent. The median age for workers in this industry is 39 years and median earnings are around $1,400 per week (before tax) for full time employees. For more detailed information on the Financial and Insurance Services industry, please visit the  Data Tools channel.

Employment Characteristics

Data

Employment Level - Feb 17 ('000)

433.6

Employment Growth - Five years to Feb 17 ('000)

9.8

Employment Growth - Five Years to Feb 17 (%)

2.3

Male Share of Employment - Year to Feb 17 (%)

51.3

Female Share of Employment - Year to Feb 17 (%)

48.7

Full Time Share of Employment - Year to Feb 17 (%)

82.5

Average Full Time Hours - Year to Feb 17

40

Median Weekly Earnings (full time employees) 2015 ($)

1,400

Projected Employment Growth - Five Years to Nov 2020 ('000)

37.4

Projected Employment Growth - Five Years to Nov 2020 (%)

8.5

Sources: ABS, Labour Force, Australia, Detailed, Quarterly, cat. no. 6291.0.55.003, trend. Average full time hours data is a four quarter average of original data; Earnings data are ABS, Characteristics of Employment Cat. No. 6333.0, 2015; Department of Employment, 2016 employment projections, five years to November 2020.

Top 10 Occupations

(For more information, select an occupation below)


Number Employed

(four quarter average, 2016)


Bank Workers

55,000

Financial Investment Advisers and Managers

39,900

Credit and Loans Officers

25,900

Insurance, Money Market and Statistical Clerks

25,600

Financial Brokers

24,700

Accountants

20,000

Other Hospitality, Retail and Service Managers

17,000

Financial Dealers

13,800

General Clerks

12,800

Software and Applications Programmers

11,300

Source: Four quarter average and custom data based on ABS Labour Force, Australia, Cat no: 6291.0.55.003.


Supporting data

Employment Projections

Where will the jobs be in the future? The Department of Employment projects employment growth over the next five years by region, industry, and occupation.

Vacancy Report

Online job advertising levels and trends by region, occupation and skill level are detailed in the monthly vacancy report.

Employers’ Recruitment Insights

The Survey of Employers' Recruitment Experiences is used to monitor recruitment conditions and to provide up-to-date information on regional labour market challenges.