Demand for Finance Sector Employees Climbs 16%

Demand for workers in the banking, insurance and financial sector rose 16 percent in the second quarter of 2007 from the previous quarter, according to a survey conducted by Manpower Professional of the Manpower Israel group.

Shelly Saar, the head of Manpower Professional, said yesterday the rise in demand is explained by the huge marketing campaigns by investment houses and other financial companies. However, demand for such workers is still 22 percent lower than it was in the first quarter of 2006, when demand was particularly high. Demand for senior managers, including CEOs and marketing managers, rose only slightly in the second quarter, by 3 percent from the first quarter.

According to Saar, demand for such executives is expected to continue to increase in the coming months. Demand for marketing and sales employees rose 4 percent for the quarter, though it is still 19 percent below the same figures for 2006. However, the drop in demand has steadied.