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Regional industry information is available from the Employment Region and SA4 Region channels. For more detailed information by industry, please visit the Interactive Data Files channel.

Financial and Insurance Services

Financial and Insurance Services employs approximately 441,500 persons (ABS trend data), full time and part time, which is around 3.5 per cent of the total workforce. Over the past five years, employment in the industry has increased by 5.1 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.

Employment Characteristics

Data

Employment Level - May 2018 ('000)

441.5

Employment Growth - Five years to May 2018 ('000)

21.3

Employment Growth - Five Years to May 2018 (%)

5.1

Male Share of Employment - Year to May 2018 (%)

51.7

Female Share of Employment - Year to May 2018 (%)

48.3

Full Time Share of Employment - Year to May 2018 (%)

83.8

Average Full Time Hours - May 2018

39

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

1,400

Projected Employment Growth - Five Years to May 2022 ('000)

24.6

Projected Employment Growth - Five Years to May 2022 (%)

5.6

Sources: ABS, Labour Force, Australia, Detailed, Quarterly, cat. no. 6291.0.55.003, trend. Average full time hours data is Department of Jobs and Small Business trend; Earnings data are ABS, Characteristics of Employment Cat. No. 6333.0, 2015; Department of Jobs and Small Business, 2017 employment projections, five years to May 2022.

Top 10 Occupations

(For more information, select an occupation below)


Number Employed

(four quarter average, 2017)


Bank Workers

56,100

Financial Investment Advisers and Managers

41,000

Financial Brokers

29,800

Credit and Loans Officers

24,000

Insurance, Money Market and Statistical Clerks

23,700

Accountants

19,300

Other Hospitality, Retail and Service Managers

18,500

Financial Dealers

16,400

Finance Managers

11,400

General Clerks

10,900

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 Jobs and Small Business 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.