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 467,500 persons (ABS trend data), which accounts for 3.6 per cent of the total workforce. Over the past five years, employment in the industry has increased by 14.6 per cent. The median age for workers in this industry is 38 years and median weekly earnings are around $1,500 per week.
Employment Characteristics
|
Data
|
Employment Level - February 2020 ('000)
|
467.5
|
Employment Growth - Five years to February 2020 ('000)
|
59.4
|
Employment Growth - Five Years to February 2020 (%)
|
14.6
|
Male Share of Employment - Year to February 2020 (%)
|
48.6
|
Female Share of Employment - Year to February 2020 (%)
|
51.4
|
Full Time Share of Employment - Year to February 2020 (%)
|
83.6
|
Average Full Time Hours - February 2020
|
38
|
Median Weekly Earnings in Main Job - August 2019 ($)
|
1,500
|
Projected Employment Growth - Five Years to May 2024 ('000)
|
20.4
|
Projected Employment Growth - Five Years to May 2024 (%)
|
4.6
|
Sources: ABS, Labour Force, Australia, Detailed, Quarterly, cat. no. 6291.0.55.003, trend. Average full time hours data is Department of Education, Skills and Employment trend; Earnings data are ABS, Characteristics of Employment Cat. No. 6333.0, August 2019; Department of Education, Skills and Employment, 2019 employment projections, five years to May 2024.
Top 10 Occupations (For more information, select an occupation below)
|
Number Employed (four quarter average, 2019)
|
| Bank Workers
|
48,400
|
| Financial Investment Advisers and Managers
|
39,000
|
| Financial Brokers
|
32,100
|
| Insurance, Money Market and Statistical Clerks
|
26,100
|
| Credit and Loans Officers
|
23,100
|
| Software and Applications Programmers
|
18,200
|
| Accountants
|
17,200
|
| Financial Dealers
|
14,400
|
| General Clerks
|
13,400
|
| Finance Managers
|
13,300
|
Source: Four quarter average and custom data based on ABS Labour Force, Australia, Cat no: 6291.0.55.003.