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Tuesday, September 09, 2008


Finance jobs in Illinois Slow Growing

Finance jobs in Illinois are expected to grow slowly during the near future.

Employment in Illinois' finance industry is projected to grow at a slower rate through 2014 than the average for all industries, according to an article by the Illinois Department of Employment Security. However, employment in the securities and commodities sector will be more widespread. And more recently, Chicago is picking up New York's slack in the industry.

"Employment growth will be driven by increasing levels of investment in securities and commodities in the global marketplace," the article notes. "Advances in technology will continue to have the most significant effect on employment in the banking sector. While demand for insurance is expected to rise, downsizing, productivity increases and a trend toward direct mail, telephone and Internet sales will limit job growth.

"Some job growth will result from the insurance sector's expansion into the broader financial services field," the article continues. "If legislation is passed to make health insurance more affordable to more people, demand for this type of insurance will increase further. The best opportunities for employment in the finance industry will be for financial managers and bill and account collectors."

As of July 2008, Illinois' financial activities industry employed 398,100 people, a decrease of 1.5 percent, according to the United States Department of Labor Bureau of Labor Statistics.

Possible job opportunities for those in the finance industry include:


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