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Powerchex: Financial Services Experiences Job Growth

The economy is still trying to recover, but the financial services sector is on the upswing. New data from pre-employment screening firm Powerchex finds that job growth in the sector reached just under 5 percent for the full quarter to June 2011.

The positive growth supports the 11,000 new jobs that were added to the sector in the second quarter, the fastest growth since 2007. The growth of job openings has surpassed growth of the total number of jobs, leaving room for strong workplace mobility.

“After two slow months, June has seen activity bounce back,” said Alexandra Kelly, managing director for HireRight’s EMEA region. “The strength of the vacancies numbers show that firms are keen to get the best people in place. With expectations that trading volumes will weaken in the coming months, the quality of the teams will be the key to performance. ”

While the IT sector has not experienced the same growth, it is no worse for the wear. The number of vacancies for IT contractors remained level in June, with figures for the second quarter more than 60 percent higher than the first quarters’ numbers. Kelly attributes these figures to rising overall staff costs and hopes to see the number of contractors performing IT support services increase.

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