Sydney Finance Industry and Finance Jobs
Monday February 23, 2009
Jobs Sydney is viewed as one of the most politically stable and globally competitive business locations with a population of 4.3 million with a well educated, multilingual and productive workforce. In the global financial sector, jobs Sydney has a financial services workforce that is approximately half the size of London's and almost half that of New York.
Jobs Sydney has the additional benefit of having a greater cost competitive CBD than most other cities with an efficient regulatory environment.
Sydney banking and financial jobs are traditionally some of the most lucrative as Sydney is the financial hub for both Australia and Asia Pacific. Additionally, Sydney is the capital of a state economy that is larger than Malaysia, Hong Kong or Singapore.
Jobs Sydney's financial services sector has undergone a detailed economic analysis through which Sydney's key strengths and issues were identified. The report concluded methods through which the sector can enhance it position. The Action Plan is due to be officially finalised after the global financial markets have settled.
In the more financially stable times of 2005-06, the NSW finance, property, insurance and business services market had an overall total industry income of A$72.9 billion.
While finance jobs and the industry in general are not the most thriving or popular industries at this time it is important to remember that Sydney financial jobs and the finance sector itself accounts for over one third of Australia's GDP.
Within NSW in 2006-07 there were 168,000 people working in Financial and Insurance Services which equates to 5.1 percent of the NSW's total workforce with 144 companies within the financial sector with over 200 employees and 20,000 small businesses. The financial sector and jobs Sydney has previously recorded excellent growth with 34,000 jobs created within NSW from 1997 to 2007, accounting for 43 percent of workforce growth.