Banking, Insurance and Other Financial Clerks – NOC 1434

How many people work in this occupation in PR?                           

70 people work as Banking, Insurance and Other Financial Clerks in PR.  The unemployment rate is unavailable.

 

How many employers are there in PR?

65% of people working in this occupation work in the Financial and Insurance sector in PR. 305 businesses operate in the Financial and Insurance Sector in PR.  76.4% of these are owner-operated businesses with no employees.  The majority of these are self-employed individuals working in securities and financial investments.

 

What is the age of the workforce?

57.1% of the workforce is age 45 to 54.

78.6% of the workforce is age 25 to 54.

 

What education is required to do this job?

66.7% of the workforce has a secondary school diploma only.

25.0% of the workforce has a College, CEGEP or non-university certificate or diploma.

Industry-related certification may be required.

 

 

What do people in this occupation earn?*

The median income for Banking, Insurance and Other Financial Clerks is $45,914.00 per year.

 

What else should I know?

  • The Financial and Insurance industry is comprised primarily of small businesses.  86.2% of businesses operating in Finance and Insurance businesses employ four people or less.
  • Employment Outlook for Banking, Insurance and Other Financial Clerks in the Ottawa Economic Region is expected to be fair.
  • These professionals experienced a slight decline in employment growth in Ontario over the past decade and are employed mainly in the finance and insurance industry.
  • The adaptation of new technology has diversified the tasks that can be performed by this profession. However, this may have a negative impact on employment prospects as consumers may prefer online and mobile service options. Decreased demand may result as this occupation faces technology-related productivity increases. New openings are expected to occur mainly due to staff turnover as some clerks are promoted or leave for other jobs.
  • Almost all clerks work in a computerized environment; therefore, excellent computer skills are an essential requirement for employment. Experience using specific software, such as, Microsoft Excel, Sage 50, and billing software may improve job prospects. Overtime and weekend work is common.
  • To learn more from local employers, click on “Finance, Insurance, Real Estate”.

 

* Median income means that 50% of the people in the occupation earn less and 50% earn more.  It is a more accurate measure of typical income than using an average.

 

Source:  Census and National Household Survey 2011 and Canadian Business Counts Data 2015, Statistics Canada