Adecco The workplace economy
January 2009
 

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Sector watch


Sector watch – Finance

The financial landscape looked very different at the close of 2007 than it does today. 2008 was filled with a lot of change and volatility for the financial services industry as write-offs, bailouts and scandals dominated headlines and greatly impacted the ability of companies to remain both profitable and stable. These developments have clearly impacted the employment picture for this sector which lost 14,000 jobs in December and a total of 148,000 jobs in 2008. Despite this, unemployment for the sector remains significantly lower than the national average at 5.6% (but up from 3.2% at this time last year). Also, while traditional roles within the financial services space are being tightened, corporate finance and accounting professionals continue to be in strong demand as companies need the financial analysis, budgeting and forecasting skills to successfully manage through the current downturn.
 
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