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Financial Industry Forecast Optimistic

Financial Industry Forecast Optimistic

Friday, Apr, 20, 2018 03:47PM

A recent survey by OneWire, a job placement agency for financial professionals, found that respondents believe the financial industry will aid in economic recovery. For those earning an online degree in finance or participating in an online accounting degree program, the study shines a light on future success.

Among the participants, 56.6 percent of respondents believe that the private financial industry will aid in recovery, while 26.4 percent had faith in the current White House administration and 17 percent were hopeful of a new White House administration.

A similar survey was conducted by the company eight months ago that showed significantly less hope in the job market. Participants in that survey were mostly pessimistic about conditions - 67.6 percent - whereas the recent survey showed 59.9 percent were optimistic. These results came just after the release of Bureau of Labor Statistics' report showing a 0.1 percent increase in unemployment and a smaller-than-anticipated increase in new job openings.

"Our candidate survey gave us a rare glimpse into how those actively looking for jobs in the financial services industry view their prospects as the market struggles to bounce back from the recession," said Brin McCagg, co-founder, president and COO of OneWire. "Although hiring remains sluggish, as evidenced by the May jobs report, the survey tells us that a majority of candidates are optimistic about the future, believing that the private sector will play a key role in economic recovery."

Reuters reported the United States' economic sector grew more rapidly in May than anticipated and Wall Street stocks rose on June 5. The Institute for Supply Management's services index went from 53.5 in April to 53.7 in May, which is just above the growth forecasted by economists.  

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