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AUSTRALIAN FINANCIAL SERVICES FAILING TO ATTRACT SKILLED WORKERS.
PERTH, July 1 Asia Pulse - Australia's financial services sector is not attracting enough skilled workers to the deteriment of the nation's push to become a global financial services sector, a report finds.
It also finds the glass ceiling is detering the retention of talented females, which also threatens to undermine the growth of the sector.
Research by Finsia, the Financial Services Institute of Australasia, says that despite strong employment growth and rising education levels, the growth of the finance sector in the past decade increased only mildly while other sectors boomed.
The research identified a disparity in the participation rates of men and women in the finance sector.
The proportion of females working in the finance industry has fallen three per cent to 45 per cent since 1997, with female participation dropping off particularly in older age groups.
"This suggests a structural impediment within the finance sector to re-employing women," Finsia said in a statement today.
"Disturbingly, the research reveals that the finance sector has done little to break down historic barriers facing women in the sector, with women employed at disproportionately lower levels to men in terms of both roles and income levels."
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Source: HighBeam Research, AUSTRALIAN FINANCIAL SERVICES FAILING TO ATTRACT SKILLED WORKERS.