Recruitment on the rise in finance and law

Recruitment levels in professional services and finance firms are showing signs of recovery while some industries continue to suffer in the wake of the economic downturn, according to new employment figures.

Recruitment on the rise in finance and law

Recruitment levels in professional services and finance firms are showing signs of recovery while some industries continue to suffer in the wake of the economic downturn, according to new employment figures.

Research released by the Australian Chamber of Commerce & Industry (ACCI) and Westpac yesterday show a marked overall improvement in employment levels.

The past three months has seen recruitment rise by 3.5 per cent in professional services firms including lawyers, accountants and engineers. Growth over the past 12 months is now at 11.6 per cent in these industries.

According to the data, employment in the banking sector has recovered to its pre-GFC levels with the same 411,000 working in it now as in August 2008.

Employment has also increased in the manufacturing (1.7 per cent) and construction (1.1 per cent) industries.

However, the retail and transport job markets have remained stagnant. Retail employment is down 2.9 per cent in the past year with a 0.7 per cent fall in the past three months.

Greg Evans, Director of Economics and Industry Policy at ACCI, said the net employment outcome was stronger than predicted. “The overall outlook presented by the March quarter 2010 survey is generally solid but some key indicators have remained mixed. Economic activity has been strengthening but some fragile are still remain.”

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