Brisbane finance jobs take a tumble due to mining slowdown

The mining industry slowdown, coupled with decreasing coal prices and public service job cuts, has had a significant effect on financial services jobs in Brisbane.

The Brisbane banking sector has struggled in the wake of the GFC and the 2010-11 floods, and the Queensland economy has not recovered at the same rate as some other states. The current Brisbane finance employment has been heavily dependent on the mining and the public service sectors, the fortunes of which have a much stronger effect on finance jobs in Brisbane compared to the other capitals.

But there is still plenty to be optimistic about, says eFinancialCareers Managing Director Asia Pacific, George McFerran.

“While things are certainly tight right now in Brisbane’s financial services hiring, it’s not all doom and gloom, and we expect that pending State government announcements about project spending in resources, construction and infrastructure may help revitalise the market.”

“And if commodity prices improve and the mines step up production then confidence will return and Queensland will move forward”, continued McFerran.

Hiring hot spots 

Although the market is challenging, there are still “hot spot” areas of opportunity, according to eFinancialCareers. There has been an increase in contract recruitment, particularly in insurance. And there is still some demand for business-critical or revenue-generating roles such as auditors, financial planners, paraplanners, brokers or those involved in project work like business developers, analysts, or financial reporting. 

“While activity in the resources sector may have slowed, but there will always be a need for finance professionals within mining where accounting staff and credit controllers will always be in demand,” said Mr McFerran.

Forecast for the rest of the year 

There’s unlikely to be any significant change in the job market for the remainder of this year, but eFinancialCareers expect a pick-up in 2013 once some of those key government spending announcements are made.

--------------ENDS----------------

About eFinancialCareers

eFinancialCareers, a Dice Holdings, Inc. service, is the leading global career site network for professionals working in the investment banking, asset management and securities industries. The website provides financial services professionals with job opportunities, job market news and analysis, salary surveys and career advice. Recruiters and employers can post jobs targeting specific sectors within the financial services industry, both buy-side and sell-side, and can search the resume database for highly qualified and specialized professionals. eFinancialCareers has a network of co-branded career sites with industry-leading trade publications and offers local websites in 19 markets and five languages primarily across North America, Europe, the Middle East and Asia-Pacific. Please visit www.eFinancialCareers.com.au for more information.

For further information please contact:

Cape Public Relations +61 2 8218 2190

Luke Roberts luke@capepublicrelations.com M: 0422 855 930

Jane Thomson jane@capepublicrelations.com M: 0413 682 377