Changes in the industry are also evident in the hours worked data presented in figure 13.2. Labour flowed into the industry following the period of deregulation as firms sought to expand in the newly liberalised marketplace. The increase in service provision, partly associated with the significant increase in commercial lending for property investment saw value added also increase strongly in the years leading up to 1989-90. However, both value added and labour fell significantly, as parts of the industry had record losses.
There has been some changes in the employment patterns within the Finance & insurance industry. The industry has seen a small shift to part-time employment over the last twenty years, most notably in Insurance (14% to 19% of total employment) and the Services to Finance and Insurance (19% to 26% of total employment). The other aspect of employment that is changing relates to changes in occupations employed within the industry. The main occupations in the Finance & insurance industry are managers, professionals, clerical, sales and service workers. However, the number of clerical, sales and service workers declined over the last 20 years while managers and professionals have increased.