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The number of jobs advertised in retail banking and mortgages rose in September but any significant recovery remains some way off according to the Olivier Job Index.
Retail banking and mortgage jobs rose by a surprising 6.2 per cent in September but remain down by more than 50 per cent compared to September 2007, the index showed yesterday.
Olivier said the government’s $4 billion investment in RMBS would provide a boost to employment in the non-bank sector but warned that the proposed acquisition of BankWest and break up of Suncorp would likely lead to job losses in WA and Queensland respectively.
Olivier said the RBA cash pumped into money markets would ease pressure on financial institutions but a major turnaround in employment would take time.
Published: 08-10-08
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