Customer Services Representatives – Financial Institutions – NOC 6551 PR±

160

Number of People Who Work in this Industry

$27,578

Median Income of People Working in this Occupation

55%

Chance this Occupation Will Be Impacted by Technology in the Next Decade

88.9%

Participation Rate
Percentage of the number of people currently working in the occupation as compared to the total number of people within the occupation as of the week of
May 1 to May 7 2016

0.0%

Unemployment Rate
Percentage of people looking for work as compared to the total number of people in the occupation as of the week of May 1 to May 7, 2016, when the unemployment rate was 7.8% in SDG and 5.3% in PR.

Education

of People Working in this Occupation

41.9% of the workforce has a secondary school diploma.

32.3% of the workforce has a College, CEGEP or non-university certificate or diploma.

Age of the Workforce

in this Occupation

22.2% of the workforce is age 20 to 24.

27.8% of the workforce is age 55 to 64.

Sectors that Employ this Occupation

90.3% of customer service representatives – financial institutions work in the Finance and Insurance sector.

Employment Outlook

The employment outlook in our region for 2017-2019 is fair. Employment decline will lead to the loss of some positions. Several positions will become available due to retirements. There are a small number of unemployed workers with recent experience in this occupation. High employee turnover in this occupation could lead to additional employment opportunities.

Projected growth rate in Ontario: 1.1%-2%

More Information

What Else Do I Need to Know?

  • The 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 Customer Service Representatives – Financial Institutions in the Ottawa Economic Region is fair. The increasing use of automation in the financial services sector will continue to limit demand for this occupation. For instance, some of the services normally provided by customer service representatives have shifted from in-person assistance at the local branch to automated teller, telephone, and web-based services. Due to the entry-level nature of this position, the prevalence of part-time work, and relatively young workforce, most openings are expected to arise from staff turnover and promotion.
  • Individuals who have strong communication and problem solving skills and who have the ability to multi-task are more likely to obtain a job. Willingness to do shift work has become a requirement since many financial institutions have increased their hours of operation, adding evening and weekend hours.
  • For more information directly from local employers about this occupation, click on Finance, Insurance and Real Estate.