Another 15k finance jobs to disappear by 2019
In the next five years, another 15,000 jobs will disappear in the finance sector according to a report from benefits agency UWV. Despite the growing economy, the job market in the financial sector is not healthy.
Banks, pension funds, insurance companies and investment bureaus are all streamlining the workforce. Between 2007 and 2013, job opportunities in this sector have decreased by nine percent, or 38,000 jobs.
The UWV blames the economic crisis, and digitalization. "An expansive office network is no longer necessary, products can easily be offered via the internet."
Jobs are disappearing, and changing. UWV says that the focus is on control and oversight as well as big data, analyzing the client stream. These are high functioning positions. Most jobs that will become available are for commercial employees, bank and insurance entities and salary administrators, and higher positions in financial specialism and ICT.