Sometimes, no news is good news. This month’s jobs report indicated no change in employment within the financial services job market. Following recent months of job losses, a return to the center and renewed stability in this sector is a welcomed change of pace for an industry that employs over 8.2 million Americans. While there were continued job losses in the credit intermediation portion of the job market due to further fallout from the sub-prime mortgage and credit crisis, these were offset by increases in employment by insurance carriers and rental and leasing services. Despite the recent turmoil in the industry, it’s also important to note that unemployment for the sector is still well below the national average at 3.6% – a 0.5% increase from July 2007.

Key finance sector job growth in thousands (YTD 08)

Source: BLS Data