Job Growth in This Economy? October 18, 2010Posted by dynamicsassociates in Uncategorized.
Tags: america, americans, bank, banking, banks, economy, Finance, financial industry, Investing, jobs, money, Networking, Recruiting, risk manangment, unemployment, work
The world is ending, the economy is in shambles, and unemployment is about to reach an unfathomable figure of 10%. It may feel like the sky is falling. According to Harris Interactive Inc., as compared to a year ago, most Americans believe that the U.S. economy is in a state of decline. About one-third of all Americans say that personally, their own finances are not as good as they were a year ago. More than 56% of Americans reported that they are concerned about their own financial situation and 44% reported that they are not concerned. This pessimistic outlook that his infiltrated mainstream society seems to have completely missed Wall Street.
The path to recovery lies on Wall Street and it seems that the finance industry is steadily recovering from its near collapse towards the end of 2008. According to one of our top recruiters, Brandon Doohan, there has been a drastic increase in the amount of job openings, interviews, offers, and offers accepted in the past 12 months. The job categories with the most openings are: control functions, risk management, auditing, and product control for middle offices.
Mr. Doohan explains the recent trend, “If you go back to 2008, there were massive firings and layoffs and strict budget caps imposed by banks. Between 2008 and till the end of 09 most of the industry has been able to maintain at capacity. This created a large pool of qualified candidates that have been on the sideline for close to a year. Now however, the markets have rallied and trading activity has picked up.” Banks are continuing to show strong quarterly profits and therefore are starting to hire again. However, this time around the focus will be on control in order to avoid the outcomes of the previous recession.
The financial industry is trending upwards. There are jobs out there and we’re climbing out of the recession. So, if you’re working on Wall Street, or if you have been on the sidelines the past couple of months, don’t worry. There are plenty of jobs out there, just waiting to be filled by qualified candidates such as yourself. Recruiters such as the team at Dynamics Associates are looking for you. Don’t hesitate for a better future and start making the most of today. Start applying, start getting your name out there, and don’t sit around and wait for the next recession to hit.