Local insurance jobs holding up as US market falls
Recruiters say Australia’s insurance employment market is holding up well, in contrast to a bleak picture from the US.
The latest US Bureau of Labor Statistics figures show the American insurance industry lost 3400 jobs in October, marking the 12th consecutive monthly fall. There are 3.4% fewer insurance jobs than a year earlier.
Jane McNeill, Senior Regional Manager at Hays Specialist Recruitment, describes the local insurance job market as “still fairly buoyant” after escaping the major impacts suffered by other areas of financial services.
Felicity Southorn, Senior Recruiter at Buxton Pratt Consulting, says the effects of redundancies and retrenchments among account managers and administrators were felt in the market mid-year but the situation has stabilised.
She says job orders have been increasing over recent months but people are tending to stay put.
“People are not actively looking, but they’re keeping their eyes open,” Ms Southorn told insuranceNEWS.com.au.
“We’re sourcing most of our candidates through networking and referrals – not so much from the jobs boards.”
Broking continues to be an area of high demand, with a particular need for experienced assistant account executives.