Bloomberg Businessweek, a weekly business magazine published by Bloomberg L.P., has reported that during the summer of 2010, Canada and Australia appeared to be only slightly affected by the Recession of 2008-2010 that had affected USA, UK, and other countries.
Meanwhile, Australia’s unemployment rate as of June 2010 was only at 5.1%, a low rate when compared with USA and UK. This indicates open job listings in high demand of workers.
On the jobs search engine, Indeed Australia, the number of job listings for Australia spread across the Internet and reached over 165,400. According to the Australian Bureau of Statistics, 11,100,000 people in Australia are actively on the job. This has spurred in the
Australian work holiday visa applicants to apply visas to Australia.
A report also showed that of the 15,000 new jobs that economic forecasters predicted for June 2010, 45,900 additional jobs or just over 300% of projections actually been created in the country.
The rate of application for a
work visa to Australia is remarkably increasing. A 2.3% total growth is forecasted for the country’s economy for the upcoming 4th quarter of 2010. This is driven by continued business and government investments and the increasing Chinese demand for Australian resources.
With this booming and stable Australian economy, jobs in the Australian financial services sector are in demand in 2011 according to financial services career website, eFinancialCareers. The expected areas that are to see an increase in demand this year are Leveraged finance analysts, product controllers, and equity analysts.
According to Pacific George McFerran, eFinancialCareers Head of Asia, demand for these positions is strengthened by many factors, which includes macro economic trends, resulting to a strong demand for resources bankers; regulatory pressures, generating demand for risk managers; and increases in trading volumes, resulting in more professionals needed in product control.
The jobs are extremely in demand in Australia for this year 2011 are:
Risk management and compliance jobs are needed more in particular since the global economic crisis hit. To meet the growing regulatory changes, banks will be hiring more talent for these jobs.
M&A bankers in the resources sector will be hired to guide major corporations through profitable mergers and acquisitions.
Skilled fund managers with the ability to instantly produce revenue will be in high demand. Specifically, those with multi-asset experience, who survived the GFC with their passion for the industry intact, will be chiefly singled out.
Analysts in leveraged finance are in demand this year and are expected to increase due to the swift drive in debt markets.
As transactions increase in 2011, Leveraged finance divisions that have kept hold of their senior talent during the downturn will be employing analysts to support the business.
Demand for their skills of product controllers this year will mainly be motivated by the mounting trading volumes and increased spending on projects to enhance markets systems.
As new firms take away people from current players leaving gaps in the companies they poach from, Equity analysts are in soaring demand this year.
Functional business analysts with strong financial backgrounds are needed this year since many banks in Australia are preparing for substantial IT projects.
Firms are also hiring developers with strong Java and C# professionals skills.
So with many jobs that are in demand for 2011, many people are applying for
visa from Australia particularly work visa to Australia.