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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 445,500 persons (ABS trend data), which accounts for 3.5 per cent of the total workforce. Over the past five years, employment in the industry has increased by 8.9 per cent. The median age for workers in this industry is 39 years and median weekly earnings are around $1,434 per week.

Employment Characteristics

Data

Employment Level - February 2019 ('000)

445.5

Employment Growth - Five years to February 2019 ('000)

36.2

Employment Growth - Five Years to February 2019 (%)

8.9

Male Share of Employment - Year to February 2019 (%)

49.7

Female Share of Employment - Year to February 2019 (%)

50.3

Full Time Share of Employment - Year to February 2019 (%)

82.5

Average Full Time Hours - February 2019

39

Median Weekly Earnings in Main Job - August 2018 ($)

1,434

Projected Employment Growth - Five Years to May 2023 ('000)

14.2

Projected Employment Growth - Five Years to May 2023 (%)

3.2

Sources: ABS, Labour Force, Australia, Detailed, Quarterly, cat. no. 6291.0.55.003, trend. Average full time hours data is Department of Employment, Skills, Small and Family Business trend; Earnings data are ABS, Characteristics of Employment Cat. No. 6333.0, August 2018; Department of Employment, Skills, Small and Family Business, 2018 employment projections, five years to May 2023.

Top 10 Occupations

(For more information, select an occupation below)


Number Employed

(four quarter average, 2018)


Bank Workers

45,900

Financial Investment Advisers and Managers

37,100

Financial Brokers

30,700

Credit and Loans Officers

26,500

Insurance, Money Market and Statistical Clerks

22,000

Other Hospitality, Retail and Service Managers

18,900

Accountants

17,500

Financial Dealers

16,400

Finance Managers

15,500

Software and Applications Programmers

14,200

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, Skills, Small and Family 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.

Workforce Shortages

The Department carries out research to identify workforce shortages at the state, territory and/or national level for around 80 occupations.