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Jersey Finance Sector Employment At Six-Year High

by Amanda Banks, Lowtax.net, London
03 May, 2016

Figures included in the most recent Jersey labor market statistics show that jobs in the Jersey finance industry rose in 2015 by more than 400 for the second consecutive year to reach a total of 13,010, the highest figure since 2009.

Jersey Finance Deputy CEO, Richard Corrigan, said: "That we have seen an increase in employment in 2015 within the local finance industry to reach a six-year high is great news for the island economy. Even more pleasing though is that this is sustained growth that reflects the confidence that our members have been feeding back to us and that has been highlighted in recent Business Tendency Surveys. Around a quarter of Jersey's workforce is employed in the finance industry, driving almost half of all economic output, demonstrating the industry's contribution locally."

"Whilst we've witnessed an ongoing trend in the reduction of employment in banking, as banks globally continue to undergo significant structural change, in 2015 in Jersey this was a modest one percent decrease. This was more than offset by impressive growth in the trust and company management and legal sectors and rises in accountancy and fund management, indicative of the demand there is for high quality wealth management, corporate, and funds expertise."

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