Finance and Insurance JSI Slides 4.3% in August
JSI has Dropped Seven Times in Nine Months, 11.3% Since November
The Scorelogix® Finance and Insurance Job Security Index™, a predictor of job security in a key sector of the economy, slid to 156.5 in August, marking a 4.3% decline, and the eighth decrease in thirteen months. In this thirteen month period, the Finance JSI has decreased by 6.3%, and 11.3% from its peak in November 2007. The most recent drop of 4.3% marks the steepest one month drop over this time period. Coupled with continued market turmoil, this sharp decline is indicative of future difficulties in this sector.
The fluctuations in Finance JSI align loosely with fluctuations in the National JSI, and for this reason, despite recent negative growth in the sector, Finance & Insurance remains much more secure than the overall jobs market. While the JSI for the sector has registered marked declines over recent months, the declines in the National JSI are even starker. For this reason, even in its decline, Finance and Insurance have grown even more secure than the overall jobs market.
Despite recent bank failures and bankruptcies, the sector as a whole remains strong and solvent, because even in a down time, jobs in the finance and insurance sector are necessary to maintain the flow of the overall economy. For this reason, it is unlikely that this sector will ever fall so far as to register below the National JSI. The growing disparity during this difficult time supports this assertion. This is an interesting juxtaposition, because it can almost be said that the difficulties in the financial markets has a greater affect on the National JSI than on the Finance JSI.
All of the
To obtain further information about Scorelogix’s Job Security Index, or to receive a more in depth analysis of the data provided above, please email Scorelogix
###
Posts
