Firm Predicts Finance Jobs Will Surge


08 July 2010
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The job market is slowly recovering as companies are starting to interview and hire employees once again. However, one search firm is predicting that a surge of finance jobs will be created soon.

According to the Boston Business Journal, search firm Kinsey Allen International predicts that approximately 6,000 financial services jobs will be created in Boston between now and the end of the year.

That surge represents an increase of almost 4% over the 144,000 employed at the end of 2009 in the financial sector. The company said that a shift moving away from large holdings of U.S. stocks to pension funds is favoring smaller asset managers, and that 60% of asset management firms in Boston are hiring staff and is expect to hit 80% at the end of 2010.

The firm reported that 5,000 finance jobs were created between 2004 and 2006, according to the news source, but the credit crisis and economic meltdown lead to reduction.

However, Katie Vande Water, director of asset management at Kinsey Allen's Boston Office said that Boston experienced a turning point in the finance industry late in 2009.

"Boston's resurgence in 2005 and 2006 shows it is entirely capable of rising from the recession," Water told the news source.

According to the Bureau of Labor Statistics, the employment of financial analysts is expected to grow 20% between 2008 and 2018.ADNFCR-1502-ID-19880215-ADNFCR

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