Source: Adobe Stock
The current labor market has left many companies across all industries critically understaffed. Much of the reaction to the labor shortages has centered around service industries, where shortages are most apparent and their effects are most obvious, but financial services have also taken a hit from the tight labor market. According to the U.S. Bureau of Labor Statistics, the finance and insurance industries experienced 141,000 separations – people leaving their jobs for any reason – in March 2022, constituting 2% of total employment. Now, qualified knowledge workers are harder than ever to come by, and those still employed are taxed with more work.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
