About the financial and insurance services industry
About these reports
These reports provide a point in time, data-driven overview of the workforce and skills for each industry.
The report does not provide a complete view of workforce dynamics within the industry. Its purpose is to support ongoing efforts to address workforce and skilling demands and to identify opportunities within the financial and insurance services industry.
Report coverage
This report focuses on the financial and insurance services industry and the occupations relevant to the industry, categorised using the Australian Bureau of Statistics (ABS) classification of industries (ANZSIC) and occupations (ANZSCO).
Coverage in this report is limited to employment in the industry and sectors as defined by the ABS, noting some occupations are almost exclusively associated with an industry, such as surgeons in the health services sector, while others, such as accountants, are associated with many industries.
Furthermore, industry classifications rarely encompass the full nature of the work (and therefore skills) associated with a given industry. Therefore, ABS definitions of industries or sectors may not align with the definitions used by an industry association.
Key sectors of the industry
The financial and insurance services industry manages money, risk, credit and investment flows for individuals and businesses.
The key sectors within the financial and insurance services industry are:
- Monetary intermediation – includes banking, credit unions, mortgage providers and savings institutions
- Insurance and superannuation – includes life, health, general insurance and superannuation fund management
- Financial services – includes investment advice, stockbroking, fund management and credit reporting.
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