The securities industry added almost 7,000 jobs in June, and revisions to the previous months’ figures mean there were 4,000 more positions created than had been reported at the time, according to BrokerHunter.com’s latest Employment Trends report.
While this is good news, the industry still has a long way to go to get back to its peak in June 2008. Industry headcount is still down 75,000, or by 8.5%.
The finance and insurance industry added 15,200 new positions in June, its first increase since December. This sector, which includes banks and other firms embroiled in the mortgage crisis, has lost 523,000 since its peak in June 2006.
“We’re seeing a little bit of a stirring, especially by the big players, which have been thoroughly aggressive about hiring,” says Steve Testerman, president of BrokerHunter.com in Atlanta. “This is certainly good news, although with over a half a million jobs lost, it’s only barely beginning to inch up.”
That said, BrokerHunter.com, a jobs listing site for the financial services industry, has its most-ever jobs posted at 11,309. This high watermark is colored by several factors, though: the site started posting international positions last year, which now account for 20% of listings; and it only signed Bank of America/Merrill Lynch and Citigroup up as clients in the first quarter. Both firms are putting a disproportionate effort into hiring right now after integrations and major strategic shifts negatively affected their headcounts.
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