POWERED BY MOMENTUM MEDIA
Financial services jobs see boost
Financial and insurance services jobs saw a 38% bounce back in June, according to Sunsuper’s Australian Job Index.
The index measured job advertisements, which overall rose by 9.4% in May and 10% in June, after its largest ever fall in April.
However, it still currently remained 40.3% below the level it was at the start of the year.
New South Wales saw the highest permanent decline in job opportunities (-32.4%) while Victoria had the highest all in contingent job vacancies (-33.8%)
Brian Parker, Sunsuper’s chief economist, said that while the improvements in job vacancies in May and June were a promising sign, the ongoing impact of the COVID-19 pandemic, including renewed shutdowns, made employers nervous.
“The reintroduction of restrictions in Victoria and the risk of renewed restrictions elsewhere means the recovery in the labour market remains fragile,” Parker said.
“Opportunities for both permanent and contingent employment still remain well below pre-COVID-19 peaks; however, the recovery over May and June has been somewhat stronger for contingent work.
“Permanent job opportunities rose by just 5.2% in May and a more encouraging 10.5% in June, yet the recovery in contingent demand has been stronger, with gains of 19.5% in May and 9% in June.”
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
